Naphtha & Gasoline reports
Please note that these reports will now be published every Thursday.
The Mar’25 Brent futures flat price clawed higher on Tuesday afternoon, rising from $78.50/bbl at 14:00 GMT to nearly $79.60/bbl by 16:45 GMT before falling to $79.16/bbl by 17:40 GMT (time of writing). In the news, a rare winter storm
The Mar’25 RBOB futures outright price reached above the upper Bollinger band on 15 Jan to a high of $2.20/gal and has since corrected to $2.14/gal on 21 Jan. The cracks have been fairly robust, and the Mar’25 RBOB futures
Another week brings another selection of new trade ideas from Onyx Research, this time looking at trades in distillates, gasoline, and LPG swaps. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven tradecraft
The Mar’25 Brent futures contract has been on a downward trajectory since hitting an overnight peak of around $80.45/bbl at 0220 GMT, trading steadily down to $79.00/bbl at 1050 GMT (time of writing). Crude oil prices saw bearish sentiment after
The Mar’25 Brent futures contract started to recover this afternoon, strengthening around 50c since this morning up to $80.93/bbl at 1325 GMT. However, Brent flat price then sold-off at US open (1330 GMT) down to $79.45/bbl around 1400 GMT, retracing
Bye Bye Biden The M1 Brent futures contract surged to its highest level since July last week but has since softened to $80.80/bbl at 12:45 GMT (time of writing). We expect the M1 contract to end the week between $78
In the week to 20 Jan, the Mar’25 Brent futures saw a narrow trading range, with prices correcting from overbought levels, closing at $80.50/bbl as bullish momentum slowed (RSI dropped from 84 to 66). Open interest declined sharply, likely due
In the week ending 14 January, money managers got longer in Brent but reduced length in WTI futures. Combining both crude futures benchmarks, money managers had a risk-on week as they added 31.7mb (+5%) in longs and 15.0mb (+11.6%) in
The Mar’25 Brent futures contract has been on a decline since 16 January, continuing to fall this morning from just under $80.70/bbl at 0610 GMT down to $80.17/bbl at 0955 GMT, before recovering to $80.40/bbl at 1045 GMT (time of
The Mar’25 Brent futures contract weakened further this afternoon, falling from $81.35/bbl at 1200 GMT down to $80.57/bbl at 1600 GMT, before recovering to $81.15/bbl at 1755 GMT (time of writing). Crude oil prices have faced some downward pressure as
In High Sulphur Fuel Oil (HSFO), the 3.5% barge complex weakened into the new year. The Feb/Mar’25 3.5% barge spread dropped from $4/mt on 27 Dec to a contango of -$1/mt on 14 Jan. While this contango was short-lived, the
Brent Consolidates Above $80/bbl Brent crude futures maintained their strength above the $80/bbl handle this week, amid supply tightness fears following the Biden administration’s sweeping sanctions targeting the Russian oil industry. As of 13:00 GMT (time of writing), Mar’25 Brent
The Mar’25 Brent futures contract has seen gradual weakness this morning, declining from just under $81.90/bbl at 0520 GMT down to $81.65/bbl at 1055 GMT (time of writing). In the news today, Yemen-based Houthis have signalled a pause in their
Mar’25 Brent futures saw oscillating price action this afternoon, increasing from $81.20/bbl at 1230 GMT to nearly $82.00/bbl at 1425 GMT, before falling to $80.45/bbl at 1630 and recovering to $81.45/bbl at 1745 GMT (time of writing). In the news
As energy inflation is no longer his problem, Biden is happy to put as many obstacles before Trump 2.0 as possible and is deciding now, to really crack down on Russian energy revenue. On Friday, prompt Brent reached $80 per
