Long Q3 EBOB Crack After initial weakness this morning hanging over from yesterday, we think it’s a good opportunity to try and fade that weakness and take an opposing position. For brokerage services across the barrel and to receive our
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
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 our team of dedicated professionals.
The August Brent Futures flat price has picked up strength this afternoon following a brief dip to $84.80/bbl at 14:20 BST.
Technical indicators showed major strength in both crude and products this week, following Brent’s rally to above $85/bbl. Brent, gasoil, and RBOB futures all saw their RSIs hover just below overbought territory at 65, 68, and 64, respectively. Bollinger
Technical fluff that has propped up Brent, thanks to a certain pair of hot hands in the North Sea, will likely
prove unsustainable.
Too close to the sun? The prompt Brent futures flat price contract recorded great strength last week. The contract began the week at $84.25/bbl and rallied past the $86/bbl handle on 21 June – where it met resistance. We now
The Aug Brent futures contract has seen a strong morning, rallying from $85.05/bbl at 07:20 BST to $85.55/bbl as of 11:00 BST (time of writing).
Bullish money managers returned to Brent futures in the week to 18 June on greater optimism for summer oil demand, while shorts continued to cover their positions. Longs increased w-o-w for the first time in seven weeks, by 41.2mb (+20.7%).
Short July Arb At these levels we anticipate some physical sell side interest on the front arb, with arb opportunities becoming more favourable. For brokerage services across the barrel and to receive our weekly trade ideas: insight@onyxcapitaladvisory.com
The August Brent Futures flat price has seen its price exceed $86/bbl for the first time since the end of April this afternoon, however, it subsequently settled back into an $85/bbl handle.
The European Union has agreed on the contents of a 14th sanctions package against Russia, aiming at the latter’s LNG sector for the first time.
In Asia, the Dubai players were at it again vigorously, with Petrochina playing a less prominent role while
Exxon came out swinging.
TARGET PRICE: $82/bbl – $84/bbl PRICE: $85/bbl Is Summer Demand Finally Here? The crude oil futures market is on track for its second consecutive weekly gain on signs of better demand as Brent futures rallied to seven-week highs. We initially
The Aug Brent futures flat price reached $85.75/bbl at 07:20 BST, following which the contract dived to $85.35/bbl at 09:35 BST. The futures contract again rallied to $85.75/bbl at 11:20 BST but has since eased to $85.60/bbl at 11:10 BST
