Reports

Industry-leading market insights. Get daily, weekly and monthly reports from Onyx Research, featuring expert analysis and interactive graphs. ​

Due to unforeseen circumstances, the Technical Analysis Report due for publication on the 15 July 2025 has been delayed by a day. We apologise for any inconvenience.

European Window cover

European Window: Brent Supported Above $68/bbl

The Sep’25 Brent crude futures saw a quiet Friday afternoon, trading between $68 and $68.50/bbl. Prices are on track for a weekly gain after seeing sideways action following last week’s rout. The UK’s insolvent Lindsey oil refinery faces shutdown within

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Fuel Oil report cover

Fuel Oil Report – Hi(gh)-5

High Sulphur Fuel Oil has recorded a weak fortnight ending 4 July, predominantly driven by the East. The Aug’25 Singapore 380 cst crack climbed to a high of $2.05/bbl on 16 Jun, but plummeted thereafter, sinking to -$1.65/bbl at the

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European Window cover

European Window: Brent Softens to $68.64/bbl

The Sep Brent Futures contract has seen a choppy afternoon session, trading gradually down from $69.07/bbl at 13:00 BST to $68.64/bbl where it prints at the time of writing (17:25 BST). In headlines, the Arabian Gulf Oil Company (AGOCO), a

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Trader Meeting Notes

Trader Meeting Notes: Return to Fundamentals

With the first half of 2025 firmly in the rearview mirror, we wonder what the second half of the year holds for us in the oil market. President Trump’s return injected a Big, (Beautiful?) dose of volatility into the oil

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Naphtha report

Naphtha Report: Freight Expectations

Physical demand for naphtha remained weak throughout the fortnight, with refiners and trade houses predominantly selling cracks. The absence of Shell’s buying activity in the June delivery window at the end of the month further underscored the subdued prompt demand.

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CFTC Weekly cover

CFTC Predictor: Longer in Gasoil

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

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European Window cover

European Window: Brent Softens to $68.25/bbl

The Sep’25 Brent futures contract fell off to 67.24/bbl at 15:32 BST. Prices then rallied to $68.35/bbl at 16:56 BST before softening to $68.25/bbl at 17:30 BST (time of writing). In the news, India is considering building three new sites

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LPG Report: CP Summer Sale

The LPG market saw a volatile period as prices see-sawed on crude fluctuations. Crude prices rallied and sold off just as quickly, as the geopolitical risk premium was unwound. The market’s attention then turned to CP, where a lower-than-expected CP

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Technical Analysis report cover

Technical Analysis Report: The Calm After the Storm

Brent crude futures have consolidated after last week’s sell-off, trading between a narrow $2 range over the week. Prices stabilised just above the span of the Ichimoku cloud of around $66-67/bbl, which will remain an important psychological level going forward.

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Dubai Market Report – Back to the Status Quo

The Dubai market has largely returned to normality as geopolitical risk unwinds. As per usual, the Strait of Hormuz didn’t close this time, although there was noticeably more market anxiety. The forward curve is being heavily pressured, with Brent/Dubai boxes

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European Window cover

European Window: Brent Rebounds to $67.08/bbl

The September Brent Futures contract has seen a mixed afternoon, peaking at $67.50/bbl at noon, before being sold off following the US open to a low of $66.70/bbl, and rebounding up to $67.08/bbl at the time of writing (17:30 BST).

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