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 Jul’25 Brent futures contract saw prices continue rallying up to $62.90/bbl at 16:59 BST (time of writing). In the news, the US and UK have agreed on a deal to lower tariffs on some goods. Key points include: cars,
Prompt Brent futures dropped sub-$60/bbl this week after OPEC+ decided to increase oil production hikes for a second consecutive month, raising output in June by 411kb/d. There was no OPEC-mageddon, and the market absorbed the news pretty well, for the
The Jul’25 Brent futures contract fell off this morning to $61.17/bbl at 07:34 BST. Prices then rallied to $61.96/bbl at 11:32 BST (time of writing). In the news, Chinese President Xi Jinping arrived in Moscow for talks with President Vladimir
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 Jul’25 Brent futures contract saw prices falling from $62.72/bbl at 12:56 BST down to $61.35/bbl at 17:30 BST (time of writing). In the news, US crude oil inventories fell by 2mb in the week ending May 2, according to
While most propane benchmarks strengthened into the end of April but softened into the new month, the June’25 C3 CP contract (Saudi Aramco propane) has shown more resilience. The Jun’25 tenor of the Middle Eastern propane benchmark climbed from $558/mt
The Jul’25 Brent futures contract saw prices rally to $63.18/bbl at 09:19 BST before falling off to $62.33/bbl at 11:45 BST (time of writing). In the news, India launched military strikes on Pakistan and Pakistani-administered Kashmir. The attack follows a
This week saw a significant reversal in Brent/Dubai, with the M1 contract sliding from 5 May’s high of $0.75/bbl to $0.12/bbl (at the time of writing on 6 May). This decline marked a shift from the rally building up ahead
The M1 Brent futures saw an exceptionally bearish week with prices selling off by $5, before finding support at $59/bbl and recovering to $62/bbl by 6 May (time of writing). On the upside, prices may see initial resistance at $64.50/bbl,
The Jul’25 Brent futures contract saw prices rally to $62.78/bbl at 17:17 BST before slightly coming off to $62.20/bbl at 18:20 BST (time of writing). In the news, Saudi Arabia is considering shifting towards a market share strategy in a
The Dated market suffered from the broader sell-off in crude markets, with OPEC news having a larger impact than initially thought. Supply overhang fears have inverted the Brent futures forward curve, which is in contango from Oct’25 onwards. Nonetheless, front
Our last report warned of turbulence ahead, and oil prices have indeed reflected this in the past month. Weakness emerged early in April and again in May, following OPEC+’s decision to return voluntary cut barrels to the market. Brent closed
The Jul’25 Brent Futures contract saw prices rally to $62.00/bbl  at 10:54 BST before falling off to $ 61.57/bbl at 11:50 BST (time of writing). In the news, President Trump said both Russia and Ukraine want to settle the war,
The Jul’25 Brent crude futures opened below $60/bbl overnight Monday, marking a $2 gap from Friday evening’s close. Prices steadily retraced higher above $60/bbl into the morning, reaching $60.51/bbl by 11:00 BST (time of writing). OPEC+ decided over the weekend
The Jul’25 Brent futures contract saw prices initially move up to $62.16/bbl at 14:09 BST only to quicky fall to $60.74/bbl at 15:04 BST. Prices have since gained some support at $61.37/bbl at 17:40 BST (time of writing). In the
