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.
May’s end brought with it the usual harbingers of OPEC+ rumours. With the meeting now out of the way following a baseline hike of 411kb/d in June, the M1 Brent futures contract has stabilised around $65/bbl despite briefly selling off
The Aug’25 Brent futures contract rallied to $65.84/bbl at 14:38 BST before softening to $65.45/bbl at 17:30 BST (time of writing). In the news, US President Donald Trump and China’s Xi Jinping agreed to resume trade talks amid renewed tensions
The Aug’25 Brent futures contract saw a volatile morning, with prices between $64.91/bbl and $65.20/bbl. At 11:10 BST (time of writing), prices were at $65.19/bbl. In the news, Trafigura reported a 3% rise in net profit to $1.52B for the
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
Unbearably Bearish would aptly describe the naphtha market, as sentiment deteriorated while weakness filtered into the cracks. There is an expectation of more supply coming online as refineries come out of maintenance, while petrochemical demand remains weak. The front NWE
US LPG production remained robust above 2.8mb/d, with export volumes fluctuating between 1.6mb/d and 2.1mb/d, driving stock build variations. Early in the month, LST was well supported by a rebound in FEI and strong hedging demand, especially in Cal LST
The Aug’25 Brent futures contract traded between $65.14/bbl and $65.91/bbl for most of the afternoon. The contract fell to $64.48/bbl at 16:18 BST but has slightly recovered to $64.69/bbl at 17:30 BST (time of writing). In the news, US crude
The Aug’25 Brent crude futures rose to $65.95/bbl which proved to be a level of resistance as prices failed for the second time to breach this level after failing initially last night. Prices dropped to $65.65/bbl by 11:30 BST (time
M1 Brent futures continued to trade in a narrow range around $65/bbl over the week. On the upside, the immediate resistance lies at $67/bbl, aligning with the upper Bollinger Band, the top of the May price range, and the late-April
The Aug’25 Brent futures contract rallied all afternoon to $65.86/bbl at 17:11 BST, but has since softened a little to $65.66/bbl at 17:40 BST (time of writing). In headlines, Venezuela’s May oil exports held steady at ~779kb/d, with rising shipments
The now Bal-Jun’25 Brent/Dubai differential continued to see bids towards the end of May, with the support compounded by…
The Dated market saw an exceptional rally to start June as the physical received strong bids. There was stronger demand from European refiners returning from maintenance, with just over 1mb/d of unused capacity expected to be reduced from May to
The Aug’25 Brent futures reached $65.23/bbl at 02.00 BST before softening to $64.80/bbl at 11.50 BST (time of writing). The Dollar Index slid to a six-week low of 98.16, marking a 3.3% drop since mid-May amid continued weakness. Venezuela’s oil
The adage ‘sell in May and go away’ had partial merit last month, as the front-month Brent futures contract initially moved lower…
The Aug’25 Brent futures contract initially continued rallying up to $65.68/bbl at 14:15 BST, but then fell off to $64.50/bbl at 15:02 BST. Prices have since recovered to $65.05/bbl at 17:30 BST (time of writing). In the news, Kazakhstan’s Kashagan
