Naphtha & Gasoline reports
Please note that these reports will now be published every Thursday.
Last week, Brent futures slipped in the first half of the week and the market priced in an Israel-Hamas ceasefire, which did not materialise. Prices were then supported as the Fed meeting in Jackson Hole some dovish hope into the
Following a relatively quiet overnight session, the October Brent futures flat price spiked above $80/bbl on Monday morning, jumping by 70c in 20 minutes, trading at $80.50/bbl as of 11:20 BST (time of writing).
The October Brent futures flat price rallied into Friday afternoon, climbing by $1 from $78/bbl to the $79/bbl level by 17:00 BST (time of writing). Markets were buoyed by Fed Chair Jerome Powell’s comments, where he stated that “the time
Very low sulphur fuel oil (VLSFO) saw a very strong two weeks, with strength especially prominent in the past week and beginning to soften on 24 Aug.
The Oct’24 Brent futures contract stood around $77.30/bbl early this morning before firming up to $78.05/bbl as of 10:55 BST. However, the contract met resistance here and softened to $77.85/bbl as of 11:15 BST (time of writing).
22 August 2024: 16:30 BST Vitol made Equinor’s dreams come true in the North Sea, with the Nordics finally selling a Sep 11-13 JohanSverdrup at Dated -95c. They’ve been trying to shift the medium sour for days. One could say
The Oct’24 Brent futures contract traded around a range of $76.20/bbl and $76.50/bbl between 13:00 BST and 14:45 BST before strengthening further into the afternoon, firming up to $77.55/bbl as of 17:10 BST (time of writing).
Alexa, play Down by Jay Sean. What goes up must come down, and our old friend Brent Futures is once again staring down at the abyss. The bullish EIA stats reading was the perfect dead cat bounce for longs to
22 August 2024: 09:30 BST Vitol doesn’t just set the floor in Dubai; they lift it. The Dubai physical premium (Physical minus M+2) rose 5cto 87c, while the Dubai physical discount relative to October Brent futures continued to narrow from-$1.86/bbl
The October Brent Futures contract has seen strength this morning, trading from a low of $75.84 at 09:00 BST up to $76.26/bbl at the time of writing (11:20 BST). In headlines, Nigeria’s Dangote refinery plans to source more of its
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
21 August 2024: 16:30 BST In ‘The Officials’, Onyx Capital Advisory publishes outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by
Oct’24 Brent futures flat price has seen pressure this afternoon, from over $77.70/bbl at 14.00 BST to $76.30/bbl at 17.30 BST (time of writing). The EIA US inventory report revealed a 4.649mb draw in crude stocks compared to the 2.2mb
21 August 2024: 09:30 BST In ‘The Officials’, Onyx Capital Advisory publishes outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by
The October Brent futures flat price performed better on Wednesday morning, rising from the $77/bbl level to $77.60/bbl at 11:30 BST (time of writing). API inventory data was lacklustre, as US crude stocks indicated a +347kb build against expectations of
