Naphtha & Gasoline reports
Please note that these reports will now be published every Thursday.
The front-month Brent futures has been on a downtrend since the days around President Trump’s inauguration, as it failed to support itself above $82.00/bbl on 16 Jan. This week, the M1 contract rose from below $74.15/bbl on 24 Feb to
The prompt May 25 Brent Futures contract saw continued support from this morning’s window, slowly rising to $73.36/bbl at 14:35 GMT before rapidly falling to $72.32/bbl at 15:40 GMT only to further fall to $71.22/bbl at 18:20 (time of writing).
Brent saw a weekly loss amid thin trading on account of International Energy (IE) Week in London. May’25 Brent futures dropped from $74.05/bbl at the open of 24 Feb to around $73.30/bbl on 28 Feb’s close. This week, we expect
In the week ending 25 Feb, combined open interest (OI) across both Brent and WTI futures saw a third consecutive weekly increase. This week, OI rose by a considerably lower 8.35mb (+0.2%) compared to the week to 11 Feb where
After the May’25 Brent futures contract weakened from an overnight high of $73.65/bbl down to $72.35/bbl at 0900 GMT this morning, flat price has seen some support, trading up to $72.85/bbl at 1045 GMT (time of writing). Progress towards a
In High Sulfur Fuel Oil (HSFO), the risk has been concentrated in the East. The Apr’25 3.5% barge crack softened to -$4.80/bbl but climbed subsequently, reaching -$4/bbl on 28 Feb, at the time of writing.
The May’25 Brent crude came off to lows of $72.38/bbl on Friday afternoon before climbing to the $72.90/bbl region, seeing resistance at $73/bbl.
After Apr’25 Brent crude futures hit resistance around the $77/bbl level on 20 February, prices have declined to $72.50/bbl as of 1800 GMT on 26 February. This was the lowest the M1 Brent futures contract has been since the end
Apr’25 Brent futures has seen weakness overnight, falling from $73.85/bbl around 02:30 GMT down to $73.10/bbl at 10:40 GMT (time of writing). Crude oil prices have seen bearish sentiment after Trump said that 25% tariffs on imports from Canada and
The Apr’25 Brent futures contract saw further strength this afternoon, increasing from $73.20/bbl at 12:10 GMT up to $73.90/bbl at 17:35 GMT. Bullish sentiment in crude oil has persisted after President Trump said on Wednesday that he would revoke Chevron’s
M1 Brent futures has seen a weekly loss as IE week took place in London. There seemed to be little optimism in the overall picture for 2025 demand from gloomy London. The main themes were Trump, tariffs, and geopolitical risk,
In addition to our regular Monday CFTC COT analysis report, Onyx Insight will publish its own in-house CFTC COT forecast ahead of the official Friday report. The model forecasts changes in long and short positions using machine learning, utilising Onyx’s
The Apr’25 Brent futures contract softened slightly from $72.75/bbl at 0200 GMT to $72.50/bbl at around 0730 GMT before there was better support to $73.30/bbl at 1015 GMT (time of writing). President Trump announced he would revoke Chevron’s license to
The Apr’25 Brent futures contract has seen weakness since this morning, trading down from $73.30/bbl around 09:30 GMT to $72.50/bbl at 17:40 GMT (time of writing). EIA data released today for the week ending 21 Feb showed a 2.3mb draw
Major global propane benchmarks weakened in the fortnight ending 25 Feb, dampened by softer crude oil and natural gas alongside expectations of warmer weather in the US towards the end of February. However, price movements were ultimately muted as risk
