Naphtha & Gasoline reports
Please note that these reports will now be published every Thursday.
The Nov’24 Brent futures contract has been more rangebound this morning, with the crude futures flat price rising to $73.20/bbl around 09:10 BST to then decline to $72.65/bbl around 09:40 BST to finally firm up to $73/bbl as of 11:20
Behold a Pale Force (Majeure) in Libya which was swiftly undermined as the four bears of the low 70s arrived. ETF rolling, CTA and macro-driven selling were joined by OPEC+, hinting at delaying the gradual reintroduction of supply. This acted
Nov’24 Brent futures flat price shot up this afternoon from $73.25/bbl at 12:00 BST to a high of $74.14/bbl around 15:45BST, followed by a sharp descent down to $72.53/bbl at 17:15 BST, before rebounding back to $73/bbl around 17:30 BST(time
Nov’24 Brent futures flat price spiked this morning from $72.90/bbl at 07:00 BST to the $73.20/bbl handle at 11:45 BST (time of writing). In the news today, Mark Lashier, CEO of Phillips 66, told Bloomberg that a refining capacity shortage
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 afternoon, Nov’24 Brent futures flat price showed steep downward movement from $74.50/bbl at 12:00 BST down to $73.19/bbl at 17:30 BST (time of writing), spiking briefly to $74.05/bbl around 15:45 BST. In the news today, engineers at Libya’s Brega
After trading around the $73/bbl level overnight, the November Brent futures flat price saw another collapse on Wednesday morning where price action fell to lows of $72.64/bbl at 09:00 BST. From 11:22 BST, prices spiked by $1 over two minutes
The gasoline market has seen pressure in the past two weeks. The summer driving season stalled on arrival, and Oct’24 RBOB flat price fell below $2/gal on 3 Sep alongside the crude sell-off and complete void of bullish intent in
For all the market chatter about a disappointing summer for crude oil (flat price) and refined products, Dated Brent certainly did not get the memo.
The November Brent futures capitulated on Tuesday afternoon following the US open, falling from the $76/bbl level to $74/bbl within an hour, where it found better support. Prices fell to their lowest levels in nearly 9 months and were trading
The November Brent Futures contract has seen a weak morning, trading down from daily highs of around $77.53/bbl at 08:00 BST to $75.73/bbl at the time of writing (11:20 BST). In headlines, two tankers, the Panama-flagged Blue Lagoon I and
Another week brings another selection of new trade ideas from Onyx Research, this time looking at trades in naphtha, LPG and crude oil. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven tradecraft
The $80/bbl Battleground – Front-month ICE Brent futures moved sideways during August, unable to break out of a circa $76-83/bbl range. Geopolitical swell-ups and weak economic news, raising concern over oil demand, notably out of China, took turns pushing the
Nov’24 Brent futures fl at price increased sharply this afternoon after a period of volatility, pricing at $76.80/bbl at 12:00 BSTand reaching $77.42/bbl at 17:50 BST (time of writing). In the news, Russian oil shipping costs to India are easing,
The Nov’24 Brent futures contract began strong last week, reaching $80.15/bbl on 26 Aug amid thin liquidity from players exiting for the bank holiday in the UK. This strength was also attributed to supply outages in Libya.
