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.
Light crude, not-so-light selling. That has been the spotlight in Brent/Dubai over the past week, with the Oct’24 contract descending from over $1/bbl at the end of August to $0.50/bbl on 10 Sep (at the time of writing).
Another week brings another selection of new trade ideas from Onyx Research, this time looking at trades in fuel oil and gasoline swaps. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven tradecraft
The November Brent futures contract has seen a weak morning, falling from $71.70/bbl at 07:00 BST to $70.78/bbl levels at 11:20 BST (time of writing). In headlines, Exxon Mobil has withdrawn from bidding on Galp Energia’s 40% stake in Namibia’s
The naphtha market has witnessed remarkable strength on a crack basis into the new month, with the softness in naphtha offset by a weaker Brent futures complex in Northwestern Europe and Asian markets. For instance, while the Oct’24 NWE crack
Nov’24 Brent futures flat price was volatile this afternoon, pricing at $71.68/bbl at 12:00 BST, with a high of $72.07/bbl at 12:53 BST and low of $70.68/bbl at 12:54 BST, before climbing to $71.94/bbl at 17:45 BST (time of writing).
The Nov’24 Brent futures contract capitulated over the past week as bearish sentiment mounted. Prices fell by over 5% to their lowest level this year, only finding support at the $71-72/bbl level. Traders shifted their focus towards economic concerns, with
Brent crude futures saw a significant sell-off last week amid a weakening economic backdrop despite OPEC’s plans to delay its production hikes. The Nov’24 contract has stabilised at the $72/bbl level as of 09:00 BST (time of writing). While we
Money managers retraced from last week’s bullish positioning to incredible bearishness in the week ending 03 Sep. We saw long-positioned managed-by-money players trim over 32.6mb from their combined positions in Brent and WTI futures (-8.27%) while their short-positioned counterparts added
The Nov’24 Brent futures contract has been quieter this morning, trading between $71.60/bbl and $71.90/bbl, but has since inched slightly lower to $71.50/bbl at 11:30 BST (time of writing).
Nov’24 Brent futures flat price took a steep decline this afternoon, pricing around $72.70/bbl at 12:00 BST followed by a high of $73.50/bbl at 14:50 BST before plummeting to $70.82/bbl at 17:15 BST (time of writing). In the news today,
In high sulphur fuel oil, we saw significant weakness in the HSFO complex as reduced summer power generation demand weighed on sentiment. The conclusion of bitumen season may also be a contributing factor. The Oct’24 3.5% barge crack sold off
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
