Naphtha & Gasoline reports
Please note that these reports will now be published every Thursday.
Brent softened this week as disbelief continued to be suspended for the promised (read: threatened) tariffs from the US, and the market digested and rebalanced following the rally to over $82.00/bbl last week on the news of new sanctions on
The Mar’25 Brent futures contract initially saw strength this afternoon, steadily climbing to $79.60/bbl around 1515 GMT, however, prices sold-off shortly after 1610 GMT down to $78.10/bbl at 1640 GMT, retracing to $78.65/bbl at 1735 GMT (time of writing). Crude
The Mar’25 Brent futures contract has seen strength this morning, increasing from $78.60/bbl at 0700 GMT up to $79.25/bbl at 0905 GMT, before tapering off to $79.15/bbl at 1100 GMT (time of writing). API data showed that US crude inventories
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
After this morning’s strength, Mar’25 Brent futures declined from just under $79.90/bbl at 1120 GMT down to this afternoon’s low of $78.87/bbl at 1500 GMT, recovering to $79.45/bbl at 1750 GMT (time of writing). Crude oil prices saw bearish sentiment
Mar’25 Brent futures softened overnight to below $79.00/bbl at 0700 GMT before seeing some strength this morning to highs of over $79.90/bbl at around 1100 GMT, softening to $79.55/bbl at 1200 GMT at the time of writing. Kazakhstan plans to
The North Sea physical differential strengthened above $0.80/bbl last week but has since petered out, dropping to $0.69/bbl on 20 Jan. 20 Jan also saw five offers for WTI Midland in the window from Eni, Unipec, Shell and two offers
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
