Please note that there will be a hiatus in the publication of reports between 22nd December and 2nd January due to the Christmas period. Reports will be published as normal from Monday 5th January 2026.
The geopolitical risk premium may have faded, but the continued rally in Brent structure highlights the market’s resilience. Futures spreads have been on a steady upward trend since the beginning of May, with Sep/Oct Brent strongly backwardated above $1/bbl (time
Brent crude futures have continued to inch up as they consolidate following the 23-24 Jun sell-off. The contract rose from a low of $66.35/bbl on 01 Jul to $70.35/bbl on 08 Jul at the time of writing. Prices have broken
Sep’25 Brent futures contract continued to rally this afternoon to $70.25/bbl at 17:40 BST (time of writing). US Gulf Coast fuel oil imports dropped to a record low of 213 kb/d in June. Reuters reported that refiners chose cheaper heavy
The Sep’25 Brent crude futures were supported above $69/bbl on Tuesday morning, trending up to $69.55/bbl by 12:00 BST. Prices may seek to re-test highs of $69.93/bbl reached on Monday evening following Trump’s tariffs comments, with $70/bbl a significant psychological
The elephant in the room for oil markets in June was the 12-day war between Iran and Israel, which ended swiftly after the US bombing of Iranian nuclear facilities at Fordo, Natanz and Isfahan on 22 June conducted under the
The Sep’25 Brent futures contract continued rallying all afternoon to $69.54/bbl at 17:37 BST (time of writing). In the news, Canadian Prime Minister Mark Carney expressed strong confidence that a proposed oil pipeline to the Pacific coast will likely be
Another week brings another selection of new trade ideas from Onyx Research. This week, we look at trades in NGLs and Naphtha swaps. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven tradecraft
Brent: troubled policy waters Brent chalked up a 53-cent gain on the week last Friday ahead of the OPEC+ meeting held this past Saturday, 6 July, to close at $68.30/bbl. As geopolitical risk premia withdrew from prices on a lasting
The Sep’25 Brent futures contract gapped down at market opening to $67.54/bbl, prices climbed throughout the morning to $68.73/bbl at 11:15 BST (time of writing). The drop in price comes after OPEC+ agreed to raise production by 548 kb/d in
The Sep’25 Brent futures contract saw a week of stability in the week ending 1 July as prices largely traded around $67/bbl and stayed within a $2/bbl range. This was a period of consolidation after the volatility spikes due to
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
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
The front-month (Sep’25) Brent futures contract eased from $68.76/bbl at 08:55 BST to $67.85/bbl at 10:30 BST. Price action saw more support at this level and ticked up to $68.18/bbl at the time of writing (11:45 BST).
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
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
