Naphtha & Gasoline reports
Please note that these reports will now be published every Thursday.
In the week ending 07 Jan, managed-by-money participants continued their bullish stride in Brent, adding 42.5mb to their long positions (+15%) while removing 0.8mb from their shorts (-0.9%) w/w. This change in positioning took the total net length in the
The Mar’25 Brent futures contract gapped up on market open this week from $79.70/bbl to around $81.20/bbl where prices remained supported overnight. This morning, crude prices initially strengthened to $81.60/bbl at 0845 GMT, but since saw some weakness, trading at
Strength in the Mar’25 Brent futures contract continued this afternoon, seeing a significant rally from around $78.80/bbl at 1100 GMT up to $80.65/bbl just after 1430 GMT, before falling back down to $79.25/bbl by 1750 GMT (time of writing). This
Ukraine has ended Russian gas transit to Europe as its 2019 agreement with Gazprom expired, marking a historic step in reducing Europe’s reliance on Russian energy, though it has led to power cuts in Moldova’s breakaway Transnistria region. While alternative
The Mar’25 Brent futures contract has rallied this morning from $77.30/bbl at 0600 GMT up to $78.85/bbl at 1055 GMT (time of writing). Crude oil prices have seen bullish sentiment amid expectations of potential supply disruptions from US sanctions on
The Mar’25 Brent futures contract has seen steady support this afternoon, increasing from around $76.40/bbl at 1200 GMT up to $77.20/bbl at 1725 GMT (time of writing). In the news today, Saudi Arabia’s crude oil supply is set to decline
It’s been an eventful first week back in the office. Donald Trump’s back at it, playing Monopoly with a globe in front of him, while here in the UK, electricity prices were gone (berserk) with the wind. Meanwhile, the Mar’25
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
Mar’25 Brent futures dropped overnight to a low of around $75.70/bbl at 0140 GMT before it was slightly more supported to $76.10/bbl at 1020 GMT (time of writing). Shell has deemed its oil discovery off Namibia’s coast commercially unviable, leading
After reaching nearly $77.90/bbl this morning, the Mar’25 Brent futures contract has weakened this afternoon, selling-off from $77.50/bbl around 1300 GMT down to $76.25/bbl at 1730 GMT (time of writing). Crude oil prices saw bearish sentiment alongside the release of
The Mar’25 Brent futures flat price strengthened overnight from the $77/bbl level, reaching a high of $77.88/bbl at 08:38 GMT and is set to test the $78/bbl resistance level. Alongside expectations of further sanctions on Russia and hopes for a
The bears had their turn over the festive period, and the Dated Brent bulls have entered 2025 fully locked in. Physical differentials climbed above $0/bbl on 06 Jan, and the direction and momentum of the physical will dictate the market
The Mar’25 Brent futures contract strengthened above $77/bbl at noon GMT today, where it met resistance and softened to $76.70/bbl at 14:15 GMT. Since then, the benchmark crude futures contract has continued to oscillate between these ranges, seeing resistance at
The Feb’25 RBOB futures contract saw support at the end of 2024 but began the new year softening from $2.07/gal on 03 Jan to $2.03/gal on 07 Jan (at the time of writing).
Another week brings another selection of new trade ideas from Onyx Research, this time looking at trades in crude oil and gasoline swaps. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven tradecraft
