Supply Disruption over Red Sea Attacks
December 18, 2023
Crude strength came in the context of the Yemeni Houthi militant group’s attacks disrupting international trade.
Reports
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Brent net positioning falls to lowest since 2022
December 18, 2023
Brent and WTI both saw increased shorts and decreased length for a third consecutive week in the week to Dec 12 with lacklustre demand in oil continuing to dampen market sentiment.
Goldman Cuts its 2024 Brent Forecast
December 18, 2023
The Brent futures flat price for the prompt contract has seen a sell off this morning, falling from highs of $77.39/bbl at 06:55 GMT to $76.08/bbl at 10:00 GMT. Goldman Sachs group has cut its Brent forecast for 2024 by
Fear of Attack sees Maersk Halt Container Ships in Red Sea
December 15, 2023
The Red Sea is vital for the transportation of Oil and Gas, with reduced transits already in place at the Panama Canal, this could see Eastern LPG rip higher. This presents a good opportunity to get short the LST/FEI arb.
Jan/Feb EBOB takes home $35,000
December 15, 2023
Onyx Brokerage have come up with another winner through longing the Jan/Feb European gasoline spread, netting a profit of $35,000 after a recommended entry at $3.75/mt and securing gains at $2.00/mt.
High and low sulphur fortnight review
December 15, 2023
Corrective support came to the HSFO complex after a spell of weakness in the fortnight, which was similarly seen in the VLSFO market as Al-Zour came back online.
Crude on Track for First Weekly Gain in Eight-Weeks
December 15, 2023
The crude futures have been choppy all week and by Friday morning we saw levels largely trading around the $76-77/bbl handles.  Brent prices sank to their lowest since June on Tuesday after being sold off to $73.24/bbl. With the US
ICE Gasoil – Hold the ICE
December 15, 2023
As the Yuletide season approaches, it appears that Frosty the Snowman might be opting for remote work engagements, given the latest weather runs in Europe to be at or just above seasonal normal temperatures until early January. Notably, temperatures across
Naphtha E/W Continues to Surge
December 15, 2023
This trade was suggested as part of our Onyx Alpha report on Dec 12. The reasoning for this trade stemmed from sell-side hedging flows being taken out, which was particularly important for when the price approached $14/mt-handles as this is
Second Consecutive Daily Rally for Crude
December 14, 2023
Prices have strengthened amid a weaker dollar as the Fed announced potential rate cuts in 2024, the former dropping to four-month lows against the Japanese Yen today due to the announcement.
Dovish Fed Supports Oil Price
December 14, 2023
The Brent futures flat price for the prompt contract has seen a stronger morning, rising from $74.50/bbl-handles, which were seen for the majority of the early hours, to $75.37/bbl at 09:30 GMT. The Fed held interest rates for a third
Onyx CFTC predictor:
December 14, 2023
The Onyx CFTC predictor sees a trend reversal in Managed Money positioning in Brent futures for the week to Dec 12.
Seasonal Gasoline Stockpiling Continued for a Fourth Straight Week
December 14, 2023
Gasoline stocks in the US saw inventories increase by 410kbbls in the week to Dec 8th, larger than expectations of 3.4mbbl build, with stocks now sitting at 224mbbls. RBBRs rallied on the release of the stats trading in the $11/bbl
EIA ANNOUNCES 4.26mbbls CRUDE DRAW
December 13, 2023
The Brent futures flat price for the prompt contract has seen a stronger afternoon, rising almost $1/bbl from $73.46/bbl at 12:00 GMT to highs of $74.33/bbl at 16:45 GMT. The EIA announced a second consecutive crude inventory draw, with stocks
Kero-seeing Support
December 13, 2023
While the strength in regrade emerged from robust fundamentals but kero spreads weakened into December as refiners flocked to kero over gasoil.