European Window: Brent Rallies Alongside EIA Draw
July 17, 2024
The Sep Brent futures contract strengthened this evening, climbing from $83.70/bbl at 11:20 BST to $85.10/bbl at 17:35 BST (time of writing).
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Report Schedule Update
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.
LPG Report: Build Sentiment, not Stocks
July 17, 2024
The US LST vs Far East propane (LST/FEI) arb weakened to -$220/mt this fortnight after initially rallying to -$200/mt at the start of the month. This weakness came despite LST/FEI buying, highlighting weakness in US LST propane.
Overnight & Singapore Window: Brent Trading Around $83.50bbl
July 17, 2024
The September Brent futures flat price has a mixed morning, ticking down from $83.65/bbl to a low of $83.45/bbl by 07:30 BST, before rallying to $84.10/bbl by 08:55 and then subsequently falling back down to $83.65/bbl as of 11:10 BST
Dubai Market Report – Banks Just Can’t Get Enough (Of Brent/Dubai)
July 16, 2024
A fortnight of two halves in Brent/Dubai, encapsulating the market’s duality in the year-to-date. The first week was relatively rangebound as prices hovered around -10c/bbl, with volumes low due to the US holiday. As Brent and WTI rallied, Dubai did
European Window: Brent Ticks Below $84/bbl
July 16, 2024
The September Brent futures had a mixed afternoon, initially falling from $84.05/bbl to $83.35/bbl by 13:10 BST, its lowest level since 18 June, before it then rallied back up to the afternoon’s high of $84.30/bbl at 16:20 BST.
Naphtha Report: Just Go With the Flow…
July 16, 2024
We continue to see strength across the naphtha complex, although we appear to now be approaching the dangerous realm of potential buy-side saturation with rising selling in naphtha cracks in Europe, alongside selling in the E/W.
Up-Dated Supplementary Report – It’s R-oil-y Strong!
July 16, 2024
The Dated market has retained its strength well; although there was some weakness from a sell-off in a flat price. There is good buying in CFDs and rolls from trade houses, although liquidity can be thin.
Onyx Alpha: Buy FEI Another Day
July 16, 2024
With another week comes another selection of new trade ideas by Onyx Research. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven tradecraft methods on Onyx Commitment of Traders (COT) and Flux Financials
Overnight & Singapore Window: Brent softens below $85/bbl
July 16, 2024
The September Brent futures contract has witnessed a weaker morning amid the flat price, falling from above $84.50/bbl at 06:45 BST to $84.10/bbl as of 11:30 BST (time of writing). Sentiment likely remains pressured following the poor Chinese economic data
Daily Trade Idea: 16/07/2024
July 16, 2024
With European VLSFO in backwardation in the prompt months, physical traders will note that the arb is open and we should see VLSFO from Europe start to flow to Asia.
European Window: Brent Hovers Around $85/bbl
July 15, 2024
The September Brent futures flat price has had a fairly flat afternoon, with the exception being its dip to just below $84.50/bbl from $85.10/bbl between 14:30 BST and 14:45 BST.
Futures Report: Is the Election Joe-ver?
July 15, 2024
Technical indicators showed the major futures contracts softening, with the RSI for ICE gasoil and Brent neutral and the RSI for RBOB dropping out of the overbought territory as gasoline traded extremely flat in the week.
This Week’s Target Price: $84-86/bbl
July 15, 2024
Brent crude futures opened on Monday morning and has traded rangebound around $85/bbl in its Sep’24 contract.
Daily Trade Idea: 15/07/2024
July 15, 2024
Long Aug/Sep 380 China’s average daily oil refining throughput slowed in June, a third month of declines, after more domestic plants shut their operations for maintenance. The Asian nation processed 58.32 million tons of crude last month, 4.3% lower than
CFTC Weekly: Bears Clawing Into Sentiment
July 15, 2024
In the week ending 09 July, managed-by-money participants took a risk-on approach to the benchmark Brent and WTI crude oil futures, adding a combined 13.5mb (+2.47%) to their long positions and a 1.6mb (+1.35%) to their short positions