The September Brent Futures contract has seen a mixed afternoon, peaking at $67.50/bbl at noon, before being sold off following the US open to a low of $66.70/bbl, and rebounding up to $67.08/bbl at the time of writing (17:30 BST).
The Dated Brent physical differential weakened from above $1.10/bbl on 23 Jun to $0.38/bbl on 30 Jun, with Eni and Shell both offering Forties. Both players continued to cut their offers for Forties over the past week. While Total ultimately
Sep’25 Brent futures softened from $66.90/bbl at 0800 BST to $66.55/bbl at 1048 BST before inching back up to $66.90/bbl at the time of writing at 1120 BST, the time of writing. The UK government is funding the official receiver
The Sep’25 contract dropped to $67.49/bbl at 14:10 BST before rallying up to $67.78/bbl at 14:48 BST. Prices are at $67.64/bbl at 17:55 BST (time of writing). In the news, Kazakhstan is set to exceed its 2025 oil production forecast
Another week brings another selection of new trade ideas from Onyx Research. This week, we look at trades in Fuel Oil and Naphtha swaps. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven
In the week ending 24 Jun, open interest continued to decline in the benchmark crude futures contracts (Brent and WTI futures). Brent and WTI futures saw a combined open interest dip of over 25mb (-0.53%) this week. This is a
Brent crude futures prices have steadied after last week’s sell-off, with market sentiment more balanced. Sep’25 averaged $67/bbl and traded within a $2 range from $66 to $68/bbl over the week. Prices fell sharply following Iran’s retaliation, which involved striking
The Sep’25 contract rallied to $67.16/bbl at 09:30 BST and softened to $66.59/bbl before bouncing back to $66.71/bbl at 11:30 BST (time of writing). In the news, Equinor has reported a new oil find at its Johan Castberg field in
This afternoon, the front-month Brent futures contract was initially rangebound between $68 and $68.40/bbl but softened further to $67.25/bbl at 16:40 BST. Prices found more support at this level and have since risen to $67.65/bbl at the time of writing
The Aug’25 Brent crude futures was stable and trading in a 40c range on Friday morning, supported above $68/bbl and printed $68.20/bbl at 11:30 BST (time of writing). Whilst prices have stabilised at this level, they are set for their
The world had its eyes glued to the price of Brent, and bam, just like that, the geopolitical risk premium is gone. There were vast escalations to be sure, including direct US involvement, but add a bit of nuance and
The Aug’25 Brent futures contract rallied all afternoon to $69.01/bbl at 16:28 BST but have since softened to $68.45/bbl at 17:30 BST (time of writing). In the news, Sierra Leone will decide on launching its next offshore oil and gas
The gasoline market saw a choppy fortnight amid sluggish fundamentals. Nonetheless, the Asian 92 complex has been more resilient than Atlantic Basin gasoline. In Europe, the Aug’25 EBOB crack endured a volatile stretch, pressured initially by EBOB/Gasoil stop-outs before rebounding
The Aug’25 Brent futures contract initially rallied to $68.45/bbl at 08:50 BST before falling to $67.72/bbl at 11:25 BST. Prices have since fallen further to $67.65/bbl at 11:25 BST (time of writing). In the news, according to the API, US
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
