Naphtha & Gasoline reports
Please note that these reports will now be published every Thursday.
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
The Aug’25 Brent futures contract slowly rallied up to $64.59/bbl at 14:35 BST before jumping up to $65.03/bbl at 16:43 BST. Prices have since come off to $64.65/bbl at 17:30 BST. In the news, OPEC+ has agreed to create a
The Jul’25 Brent futures initially jumped up to $64.55 at 08:57 BST before falling to $64.09 at 09:33 BST. Prices then rallied back up to $64.64 at11:30 BST (time of writing). In the news, Israel has denied a New York
M1 Brent futures continued to consolidate this week, seeing loose support at the 20-day moving average, which it is testing at $63.55/bbl on 27 May. Closing meaningfully below the 20-day moving average would be the first hurdle to the downside.
The Jul’25 Brent futures contract fell all afternoon to $63.53/bbl at 16:39 BST. Prices have slightly recovered to $64.01/bbl at 17:45 BST (time of writing). In the news, OPEC+ is expected to announce another oil output increase for July when
The Dated physical differential feels more supported after a choppy time last week, as it was not easily settled at the lower levels. There was strong buying in the front end, which allowed the differential to be priced at around
The Jul’25 Brent futures contract initially fell from $64.97/bbl to $64.47/bbl before rallying to $65.14/bbl at 10:33 BST. Prices have since slightly fallen to $64.92 at 11:30 BST (time of writing). In the news, OPEC+ is working to balance the
The Jul’25 Brent futures reached over $65.30/bbl at 09:40 BST before softening to $84.85/bbl at 10:55 BST (time of writing). President Trump criticised Vladimir Putin following a record wave of Russian attacks on Ukraine, saying, “He has gone absolutely CRAZY!”
The Jul’25 Brent futures contract initially dropped from $64.58/bbl down to $63.41/bbl at 13:10 BST. Prices then rallied all afternoon to $65.01/bbl but slightly came off to $64.72 at 17:15 BST (time of writing). In the news, US President Donald
High Sulphur Fuel Oil contracts saw their huge rally come to an end this fortnight, and prices in both curves have softened over the past week. The Jun’25 3.5% barge rose to above flat, and was bid at +10c/bbl on
The Jul’25 Brent futures contact saw prices jumping between $63.86/bbl and $64.18/bbl in the early morning, followed by a rally up to $64.42 at 11:30 BST (time of writing). In the news, Murban crude premiums have fallen to six-month lows
The Jul’25 Brent futures contract saw prices rally all afternoon to $65.95/bbl at 17:35 BST before falling off to $64.42/bbl at 18:00 BST (time of writing). In the news, Indonesia is questioning a number Singapore-based trading firms as part of
It’s been a remarkably flat week in Brent. Jul’25 is around $64.00/bbl at the time of writing on 22 May, almost exactly where it was this time last week. But what has changed? It feels like a lot has changed.
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
This fortnight, the naphtha market saw greater weakness. NWE naphtha cracks and spreads saw notable weakness through May. The Jun’25 crack fell from -$2.65/bbl on 8 May to -$3.90/bbl by 22 May, erasing earlier gains and dropping below 2018 and
