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.
After the May’25 Brent futures contract weakened from an overnight high of $73.65/bbl down to $72.35/bbl at 0900 GMT this morning, flat price has seen some support, trading up to $72.85/bbl at 1045 GMT (time of writing). Progress towards a
In High Sulfur Fuel Oil (HSFO), the risk has been concentrated in the East. The Apr’25 3.5% barge crack softened to -$4.80/bbl but climbed subsequently, reaching -$4/bbl on 28 Feb, at the time of writing.
The May’25 Brent crude came off to lows of $72.38/bbl on Friday afternoon before climbing to the $72.90/bbl region, seeing resistance at $73/bbl.
After Apr’25 Brent crude futures hit resistance around the $77/bbl level on 20 February, prices have declined to $72.50/bbl as of 1800 GMT on 26 February. This was the lowest the M1 Brent futures contract has been since the end
Apr’25 Brent futures has seen weakness overnight, falling from $73.85/bbl around 02:30 GMT down to $73.10/bbl at 10:40 GMT (time of writing). Crude oil prices have seen bearish sentiment after Trump said that 25% tariffs on imports from Canada and
The Apr’25 Brent futures contract saw further strength this afternoon, increasing from $73.20/bbl at 12:10 GMT up to $73.90/bbl at 17:35 GMT. Bullish sentiment in crude oil has persisted after President Trump said on Wednesday that he would revoke Chevron’s
M1 Brent futures has seen a weekly loss as IE week took place in London. There seemed to be little optimism in the overall picture for 2025 demand from gloomy London. The main themes were Trump, tariffs, and geopolitical risk,
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 Apr’25 Brent futures contract softened slightly from $72.75/bbl at 0200 GMT to $72.50/bbl at around 0730 GMT before there was better support to $73.30/bbl at 1015 GMT (time of writing). President Trump announced he would revoke Chevron’s license to
The Apr’25 Brent futures contract has seen weakness since this morning, trading down from $73.30/bbl around 09:30 GMT to $72.50/bbl at 17:40 GMT (time of writing). EIA data released today for the week ending 21 Feb showed a 2.3mb draw
Major global propane benchmarks weakened in the fortnight ending 25 Feb, dampened by softer crude oil and natural gas alongside expectations of warmer weather in the US towards the end of February. However, price movements were ultimately muted as risk
The Apr’25 Brent futures contract was initially supported up to around $73.30/bbl circa 07:00 GMT on Wednesday, where it saw more selling and weakened to $72.95/bbl at 10:20 GMT (time of writing). The soon-to-be prompt May’25 Brent futures contract similarly
The Apr’25 Brent futures contract sold-off this afternoon from around $74.40/bbl at 14:30 GMT down to $72.85/bbl at 17:30 GMT (time of writing). Crude oil prices saw bearish sentiment following poor economic news from the US and Germany, driven partly
M1 Brent/Dubai showed promising signs of a recovery after the Mar’25 contract rallied from an intraday low of -$0.69/bbl on 07 Feb up to near flat at -$0.06/bbl on 14 Feb, however, has now plunged even further down to -$0.83/bbl
Another week brings another selection of new trade ideas from Onyx Research, this time looking at trades in fuel oil, naphtha, and NGL swaps. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven
