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 May’25 Brent crude futures fell from the $74/bbl level on Thursday morning, reaching $73.50/bbl by 10:00 GMT (time of writing). Price action encountered a triple resistance zone at $74/bbl, where the 50-day and 100-day moving averages converged with 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
The May’25 Brent futures contract traded sideways this afternoon, increasing from $73.60/bbl at 1230 GMT up to $74.15/bbl at 1550 GMT, before declining to $73.65/bbl at 1735 GMT (time of writing). Crude oil prices have fluctuated as Russia and Ukraine
The major propane benchmarks were ultimately supported in the fortnight ending 26 Mar as we saw increasing strength in crude oil prices…
The front-month Brent futures contract ticked up slightly from $73.10/bbl at 07:40 GMT to $73.55/bbl at 09:50 GMT. While this level attracted some selling, perhaps from longs taking profit, the flat price has since risen to $73.65/bbl at 10:40 GMT
M1 Brent futures swiftly bounced higher last week, climbing from the $70/bbl handle to open at $73/bbl on 25 March. On 24 March, prices closed above the 30-day moving average (white line), which has now flipped from resistance to support
The May’25 Brent futures contract reversed this morning’s gains, falling from $73.55 around 1345 GMT down to $72.50/bbl at 1620 GMT, inching up to $72.85/bbl by 1755 GMT (time of writing). Crude oil prices have seen a downward correction this
The North Sea Dated Brent physical differential was implied quite stably mid-month as it crept down below 80c/bbl. It then dropped more severely to 46c/bbl on 20 Mar as the front and back of the Forties curve were offered by
The weakness we have seen in the Brent/Dubai complex in recent months has continued, with the Apr’25 contract steadily declining from around -$0.90/bbl on March 11 to -$1.35/bbl by March 20. This downward trend accelerated sharply on the morning of
The May’25 Brent futures has recovered well from initial weakness this morning, trading down from $73.10/bbl at 0535 GMT down to $72.80/bbl at 0620 GMT, before strengthening to $73.30/bbl at 1040 GMT (time of writing). Crude oil prices remain supported
Another week brings another selection of new trade ideas from Onyx Research, this time looking at trades in distillates, naphtha, and NGL swaps. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven tradecraft
May’25 Brent futures initially dipped from $72.60/bbl at 1200 GMT down to $72.15/bbl shortly after 1300 GMT. Flat price then strengthened to this afternoon’s high of $73.15/bbl at 1610 GMT, moderating to $72.85/bbl by 1745 GMT (time of writing). In
In the week ending 18 Mar, combined open interest (OI) across both Brent and WTI futures increased more than 3x the previous week. Combined OI rose by 71.8mb (+1.66% w/w). This is the largest increase in OI for Brent +
The May’25 Brent crude futures opened on 24 March above $72/bbl, marking its highest level traded since the start of March. Prices were supported last week as the US sanctioned a Chinese teapot refiner for the first time as it
The naphtha market started off the fortnight strong, however, ultimately saw lacklustre performance. The Apr’25 NWE naphtha crack climbed from around -$2.70/bbl on 17 March to a fortnightly high of -$2.45/bbl by 19 March. However, this was short-lived as the
