Naphtha & Gasoline reports
Please note that these reports will now be published every Thursday.
Brent/Dubai has continued its downward grind, with the M1 contract falling to its lowest level since July. The Jan’25 contract reached lows of $0.10/bbl on 17 Dec, while the entire forward curve has shifted lower in an orderly fashion. The
December has continued to see strong buying in the physical windows from a range of players, with 34 convergences so far in December. The main seller so far this month has been Equinor. Totsa has been a keen buyer of
The Feb Brent Futures contract has seen mixed price action this morning, rising up to $74.10/bbl at 07:00 GMT before correcting down to $73.40/bbl at the time of writing (10:50 GMT). In headlines, two Russian oil tankers ran aground in
Another week brings another selection of new trade ideas from Onyx Research, this time looking at trades in fuel oil and distillates swaps. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven tradecraft
The Feb’25 Brent futures flat price traded within a 60c range on Monday afternoon. Price action reached highs of $74.30/bbl at 15:30 GMT before falling to $73.74/bbl at 16:30 and climbed to $74.11/bbl by 17:30 (time of writing). In the
In the week ending 10 December, money managers saw opposing sentiment in the crude futures benchmarks, as they got longer in Brent but shorter in WTI. Overall positioning remains bearish despite the delay in the OPEC+ output hikes as traders
The front-month (Feb’25) Brent futures contract has seen a supportive performance in the past week, rising to highs of $74.50/bbl on 13 December – but has come off to the $74/bbl level on 16 December (time of writing). This week,
Feb’25 Brent futures rose from $71.00/bbl on Dec 9 to $74.60/bbl on Dec 13, before correcting to $74.00/bbl on Dec 16. The daily upper Bollinger band acted as resistance at $74.50/bbl. Volatility slightly increased, although Bollinger bands remained narrow, while
The Feb’25 Brent Futures contract experienced a weaker morning session, trading down from around $74.20/bbl at 07:00 GMT to $73.94/bbl at 10:35 GMT (time of writing) as traders take profit and await the Fed’s interest rate decision, with market expectations
The Feb’25 Brent futures flat price initially saw a decline this afternoon from around $74.10/bbl at 12:00 GMT to $73.60/bbl at 14:05 GMT, before recovering to $74.40/bbl at 17:50 GMT (time of writing). Bullish sentiment has persisted as Russia launched
Both the eastern HSFO and VLSFO complexes have seen generally lacklustre performance in the past two weeks, with both the 380 East/West and 0.5 East/West declining to $2.25/mt and $34/mt on 12 Dec, respectively, representing fortnightly decreases of around 30%
Iran v Israel, again On Monday, we forecast that the front-month Brent futures contract would end the week between $71 and $74/bbl. As of Friday, 8:30am GMT (time of writing), the contract is trading at around $73.60/bbl, well within this
he Feb’25 Brent futures contract strengthened this morning from $73.45/bbl at 07:00 GMT up to $74.10/bbl around 10:50 GMT (time of writing). Crude oil prices saw support amid reports that Russia attacked Ukrainian energy facilities this morning, targeting power substations
With the confirmation of OPEC+ delaying their output hikes, it looks like crude flat price will cling on to 70 for a while longer. The group has certainly bought themselves some more time, but at what cost? That is not
The Feb’25 Brent futures contract initially saw weakness this afternoon, falling from $73.60/bbl at 12:00 GMT down to $72.45/bbl around 16:10 GMT, before recovering to $73.65/bbl at 17:30 GMT (time of writing). Crude oil prices were elevated amid reports that
