Fuel Oil Report – A Ship Show
August 9, 2024
In HSFO over the past fortnight, we saw price action appear fairly unsettled alongside enduring relative Asian strength.
Reports
The Officials: Futures flies, Forties follows
August 8, 2024
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.
European Window: Brent inches past $79/bbl
August 8, 2024
The Oct’24 Brent futures contract hit $77.75/bbl at 10:45 BST, following which prices firmed up to $79.05/bbl at 17:35 BST (time of writing).
Trader Meeting Notes: “Carry on” – Kazuo Ueda, probably
August 8, 2024
The Paris Olympics are in full swing, with Celine Dion’s opening ceremony rendition of ‘L’Hymne à l’amour’ proving to be an even greater performance than that of European propane this week…
CFTC Predictor: Exit, Pursued by a Bear
August 8, 2024
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 proprietary data.
The Officials: Bounce or trounce for crude?
August 8, 2024
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.
Early Overnight & Singapore Window: Brent Holds Above $78.50/bbl
August 8, 2024
The October Brent futures flat price saw a supported performance on Wednesday morning, climbing by over $1 since 08:30 BST from $76.40/bbl to $77.50/bbl by 11:30 BST (time of writing). Price action is testing the $77.50/bbl resistance level, where the market failed to break on two separate occasions on the 2nd and 6th of August. According to the Petroleum Planning & Analysis Cell (PPAC), India’s oil demand rose by 7.4% y/y to 19.652 million tonnes in July. In contrast…
The Officials: What Da Fish is going on?
August 7, 2024
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.
European Window: Brent Rallies over $78.50/bbl
August 7, 2024
The October Brent futures flat price saw better support on Tuesday afternoon, finding a springboard of $75.60/bbl before gapping up to $77/bbl before coming off to $76.62/bbl by 17:30 BST (time of writing). The US Department of Energy announced two solicitations to purchase oil for the SPR, 1.5mb for delivery into the Bayou Choctaw site and 2.0mb for the Bryan Mound site, both in January 2025. Libya’s NOC said on Tuesday that it is gradually reducing production from the Sharara field, citing force majeure due to protests in the area.
Daily Trade Ideas: 07/08/2024
August 7, 2024
Long sep dfl After weakening down to lows of around -13c yesterday, we think there is opportunity to look to fade the weakness and take a small long position today on the sep dfl Short Sep 380 crack After seeing
The Officials: Which direction after the short covering and reloading?
August 7, 2024
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.
Overnight & Singapore Window: Brent Rallies to $77.50/bbl
August 7, 2024
The October Brent futures flat price saw a supported performance on Wednesday morning, climbing by over $1 since 08:30 BST from $76.40/bbl to $77.50/bbl by 11:30 BST (time of writing). Price action is testing the $77.50/bbl resistance level, where the market failed to break on two separate occasions on the 2nd and 6th of August. According to the Petroleum Planning & Analysis Cell (PPAC), India’s oil demand rose by 7.4% y/y to 19.652 million tonnes in July. In contrast…
The Officials: America wakes up, prices go up!
August 6, 2024
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.
Dated Brent Report – Totsa, It’s Hammer Time
August 6, 2024
All hell broke loose this week as the Bears came in with a bang. The Dated Brent market was not immune to the chaos that ran amok global financial markets at large. The poor US jobs reading was the tinderbox that catalysed the worldwide sell-off, and a bloodbath ensued. For our readers outside of Japan, it is one less bowl of ramen or can of Strong Zero on your upcoming trip to the land of the rising sun as investors unwound their carry trades, prompting a mass exodus from the Nikkei.