The July Brent futures flat price has had a very shaky morning, sitting at $83.30/bbl around 05:00 BST, before bouncing rapidly between $83.30/bbl handles and $82.80/bbl handles.
With another week comes another selection of trade ideas from 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 data.
For Brokerage services across the barrel and to receive our weekly trade ideas, contact insight@onyxcapitaladvisory.com
The July Brent futures flat price has had a volatile afternoon, initially falling from $83.85/bbl at 12:00 BST down to the afternoon’s low of $83.25/bbl at 14:05 BST, before rallying aggressively to a daily high of $84.45/bbl at 15:05 BST.
Technical indicators indicate an oversold RSI for Brent, ICE gasoil and RBOB gasoline futures alongside flat price that traded below all three contracts’ respective 20-day simple moving averages, flagging bearish short-term momentum. Moreover, Bollinger bands have now widened for the
For the week to May 14, we saw differing positions adopted by both prod/merc players and money managers across the two benchmarks.
The July Brent futures flat price has shown signs of weakness this morning following a fairly strong overnight period. Having risen from $84.05/bbl at 06:00 BST to a daily high of $84.45/bbl at 08:00 BST, the prompt contract has since
The prompt Brent futures flat price strengthened to $84.30/bbl at the start of the week to May 20 (as of 08:15 BST), supported by political uncertainty in vital oil-producing economies in the Middle East. Iranian President Ebrahim Raisi, previously seen
For Brokerage services across the barrel and to receive our weekly trade ideas, contact insight@onyxcapitaladvisory.com
The July Brent futures flat price has had a spiky afternoon, which it began by falling to $83.10/bbl at 12:40 BST, from which it rapidly rose to the afternoon’s high of $83.75/bbl at 14:10 BST.
HSFO saw a contrasting performance in Europe and Asia which allowed the 380 E/W to rally significantly.
July Brent futures saw a relatively rangebound week, and remains supported around the $83/bbl handles – where it has been trading since the beginning of May.
The July Brent futures flat price has had a mixed morning, first seeing a rapid uptick from $83.50/bbl at 06:50 BST to $83.85/bbl by 08:05 BST, before softening to $83.15/bbl by 10:40 BST. After this, it has retraced upwards to
Markets have been echoing the early fellowship for much of this week as they struggled to establish a clear and comprehensive narrative.
The July Brent future flat price has been well-supported this afternoon, initially rising from $82.60/bbl handles at 12:00 BST to $83.75/bbl by 14:35 BST.
