Naphtha & Gasoline reports
Please note that these reports will now be published every Thursday.
The May’25 Brent futures contract initially recovered from overnight lows of $70.60/bbl this morning, trading up to $71.10/bbl at 0730 GMT. However, prices have now reversed these gains, declining to $70.25bbl at 1050 GMT (time of writing). Bearish sentiment in
There is currently a divergence between sentiment in the physical and futures markets. The former has seen a strong performance with Totsa and Trafigura on the buy side of the physical. In contrast, Brent futures flat price and spreads were
The front-month Brent futures initially ticked up this afternoon, rising to $70.75/bbl at 14:10 GMT but dropped to a six-month low of $69.80/bbl at 15:05 GMT. The futures contract met support at this critical level and climbed to $70.80/bbl at
The front-month RBOB futures contract jumped from a close of under $2/gal on 28 Feb to $2.23/gal on 3 Mar due to the Feb’25 RBOB expiry on 28 Feb. The contract has since weakened to $2.17/gal at the time of
Another week brings another selection of new trade ideas from Onyx Research, this time looking at trades in gasoline, naphtha, and fuel oil swaps. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven
The May’25 Brent futures contract initially saw weakness this morning, trading from around $71.15/bbl at 0500 GMT down to $70.50/bbl at 0915 GMT, however, found support at $70.80/bbl by 1050 GMT (time of writing). Crude oil prices have seen bearish
For all the uncertainty in oil markets these days, which typically brings out the bulls, the Brent flat price declined throughout February to end the month at just over $73 /bbl, or circa $3 down from where it traded by
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
