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 softened this morning, declining from around $62.70/bbl at 03:25 BST to $61.70/bbl at 10:20 BST. At the time of writing (11:15 BST), the contract stands a little higher at $61.90/bbl. China is reportedly “evaluating” an
Down is up and up is down this week. Speculation has been wild about which way the collective OPEC thumb will point. The main victim in this has been Dubai crude, which has been under heavy pressure amid the likelihood
The Jul’25 Brent futures contract saw prices rally from $59.42/bbl at 12:00 BST to $61.78/bbl at 15:42 BST. Prices have since fallen off and are at $61.01/bbl at 17:45 BST (time of writing). In the news, the US and Ukraine
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
Jul’25 Brent futures saw heavy losses this afternoon, from $62.80/bbl at 16.35 BST to lows of $60.80/bbl at 16.55 BST before it retraced slightly to $61.30/bbl at 17.10 BST (time of writing). Reuters reported that Saudi Arabian officials are briefing
The Jul’25 Futures contract saw prices initially fall to $62.13/bbl at 09:28 BST before rallying up to $62.95/bbl at 10:59 BST. Prices have slightly fallen off to $62.68/bbl at 11:50 BST (time of writing). In the news, TotalEnergies reported an
The front-month Brent futures saw a bearish reversal over the past week, falling below $65/bbl by 29 April (time of writing). Price initially met with resistance against the Bollinger 20-day moving average and eventually tested successfully to the downside the
The Jul’25 Brent futures contract saw a volatile afternoon, trading between $63.91/bbl at 13:02 BST and $63.10/bbl at 17:38 BST (time of writing). In the news, Scotland’s only oil refinery at Grangemouth has permanently stopped processing crude oil after 100
The Dated Brent market continues to drift lower, with the May’25 DFL falling from a high of over $1.40/bbl last Wednesday (23 Apr) to $0.70/bbl at the time of writing on 29 Apr. Simultaneously, the lower crude levels have supported
The Jul’25 Brent futures contract fell off this morning from $64.29/bbl at 09:31 BST to $ 63.64/bbl at 09:59 BST. Prices then rallied to $64.13/bbl at 10:37 BST before falling to $63.54/bbl at 12:30 BST (time of writing). In the
The Jul’25 Brent futures contract initially rallied to $65.81/bbl at 14:30 BST before falling off to $64.37/bbl at 17:50 BST (time of writing). In the news, a massive power outage hit Spain and Portugal, disrupting flights, traffic, hospitals, and businesses.
Another week brings another selection of new trade ideas from Onyx Research, this time looking at trades in naphtha, gasoline and gasoil swaps. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven tradecraft
The naphtha market flipped to seeing support following 10 Apr, with the front-month (May’25) NWE naphtha crack rallying from -$4.80/bbl on 8 Apr to -$3.35/bbl at the time of writing on 28 Apr. The soon-to-be M1 Jun’25 NWE crack climbed
The Jun’25 Brent futures contract saw prices initially rally to $67.34/bbl at 07:12 BST before falling off to $66.48/bbl at 11:30 BST (time of writing). In the news, uncertainty over US-China trade talks and potential OPEC+ supply increase weighed on
In the week ending 22 Apr, the benchmark crude futures contracts (Brent + WTI) witnessed a bullish shift in sentiment, following two bearish weeks. Long-positioned money managers added a total of 21.6mb (5.55% w/w). At the same time, short-positioned players
