Reports

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

Naphtha & Gasoline reports

Please note that these reports will now be published every Thursday.

Dated Brent Update cover

Dated Brent Supplementary Report – Resurgence

The Dated market rallied from already robust levels as the physical received strong bids. There was initially some weakness in the physical differential on 10-12 Jun as on 11 Jun there was 23-27/Jun CFD sold by a British Major with

Read More

Overnight & Singapore Window: Brent up to $74.55/bbl

The Aug’25 Brent futures contract softened this morning to around $72.80/bbl at 0800 BST before it strengthened to $74.55/bbl at 1200 BST (time of writing). Iran and Israel continued exchanging fire for a fifth consecutive day, with Iranian media reporting

Read More
European Window cover

European Window: Brent recovers to $73/bbl

The front-month Brent futures contract gapped lower from $73.55/bbl at 14:50 BST to $71.15/bbl at 15:00 BST. Prices edged close to the $70/bbl psychological support level around 15:30 BST, where they met support and climbed to $72.80/bbl at 17:40 BST

Read More

Brent Forecast: 16th June 2025

Brent forecast – Geopolitical special Iran has rejected truce talks while under attack, refusing to negotiate until it has completed its response to Israel’s strikes. This is the fourth day of open warfare, and the line in the sand around

Read More
Onyx Alpha report cover

Onyx Alpha: Geopolitical Risk Asymmetry

Another week brings another selection of new trade ideas from Onyx Research. This week, we focus on geopolitical risk and look at trades in Gasoil, Naphtha, and Propane swaps. Our weekly Onyx Alpha report presents speculative and hedging trades based

Read More

CFTC Weekly: Short Exodus

In the week ending 10 June, crude oil futures (Brent and WTI) were on a bullish trajectory, breaking above previously rangebound trading levels. Money managers increased their length for the sixth consecutive week, with long positions rising by 24.8mb (+5%).<br

Read More
European Window cover

European Window: Brent falls to $73.49/bbl

The Aug’25 Brent futures fell to $73.92/bbl before bouncing back to $74.95/bbl. Prices fell for the rest of the afernoon to $73.49/bbl at 17:45 BST (time of writing). In the news, The IEA stated it was prepared to release oil

Read More
Gasoline report

Gasoline Report: Bear Town Road

The gasoline market remains broadly bearish, with front-month European cracks under pressure and participants showing little urgency to add length. Jul’25 EBOB cracks fell to $14.50/bbl, their lowest level since late April. The Jul/Aug/Sep EBOB fly weakened further to -$5.50/mt,

Read More
Trader Meeting Notes

Trader Meeting Notes: In Pretio Veritas

Price action never lies, and renewed fears of geopolitical risk in the Middle East saw Brent flirt with 70, with prices reaching their highest level since OPEC+ first announced their output hike.

Read More
European Window cover

European Window: Brent Rallies to $69.50/bbl

The Aug’25 Brent futures contract rallied this afternoon from $68.45/bbl at 13:00 BST to $69.80/bbl at 17:00 BST before softening to $69.50/bbl at 17:15 BST (time of writing). US Energy Secretary Chris Wright said it’s “unlikely” oil production will fall

Read More

Overnight & Singapore Window: Brent Softens to $68.63/bbl

The Aug’25 Brent futures contract bounced around $69/bbl, before falling to $68.68/bbl at 10:35 BST. Prices then softened further to $68.63/bbl at 11:31 BST (time of writing). In the news, US has evacuated non-government personnel from several Middle Eastern countries

Read More
CFTC Weekly cover

CFTC Predictor: Bulls rise in crude

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

Read More
European Window cover

European Window: Brent Rallies to $68.35/bbl

The Aug’25 Brent futures contract saw a volatile afternoon with prices bouncing between $67.76/bbl and $68.29/bbl. Prices then rallied to $68.35/bbl at 17.30 BST (time of writing). In the news, US crude inventories fell by 3.6 mb in the week

Read More