London Calling Last week, the front-month Brent futures contract recorded its first w/w increase in three weeks, with the contract closing above $66/bbl for the first time since 26 April. At the time of writing, the M1 Brent futures contract
The Aug’25 Brent crude futures opened at $66.40/bbl on Monday morning, found support at $66.10/bbl and climbed to $66.60/bbl by 11:00 BST (time of writing). In the news, Venezuela plans a 50% fuel price hike to $0.75/litre as it scrambles
In the week ending 3 June, crude oil futures (Brent and WTI) saw a rangebound performance. Money managers increased their length for the fifth consecutive week, rising by 41.1mb (+9%), with overall long positions sitting at their highest level since
The Aug’25 Brent futures contract strengthened from $65.25/bbl around 13:00 BST this afternoon to $66.48/bbl at 14:40 BST, where it met resistance. Despite finding resistance at this level again at around 15:40 BST, the M1 futures contract ultimately climbed to
In High Sulphur Fuel Oil (HSFO), Singapore 380 cst recorded a volatile fortnight, with the Bal-Jun’25 380 East/West (Singapore 380 cst vs 3.5% Rotterdam barges) was sold off from a high of $24.75/mt on 23 May to a low of
Aug ’25 Brent futures slumped overnight to reach $64.90/bbl at 08.30 BST before rising to $65.35/bbl at 11.30 BST (time of writing). Prices are on track for the first weekly gain in three weeks. Equinor has announced Norway’s Mongstad oil
Unbearably Bearish would aptly describe the naphtha market, as sentiment deteriorated while weakness filtered into the cracks. There is an expectation of more supply coming online as refineries come out of maintenance, while petrochemical demand remains weak. The front NWE
May’s end brought with it the usual harbingers of OPEC+ rumours. With the meeting now out of the way following a baseline hike of 411kb/d in June, the M1 Brent futures contract has stabilised around $65/bbl despite briefly selling off
The Aug’25 Brent futures contract rallied to $65.84/bbl at 14:38 BST before softening to $65.45/bbl at 17:30 BST (time of writing). In the news, US President Donald Trump and China’s Xi Jinping agreed to resume trade talks amid renewed tensions
The Aug’25 Brent futures contract saw a volatile morning, with prices between $64.91/bbl and $65.20/bbl. At 11:10 BST (time of writing), prices were at $65.19/bbl. In the news, Trafigura reported a 3% rise in net profit to $1.52B for the
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
Unbearably Bearish would aptly describe the naphtha market, as sentiment deteriorated while weakness filtered into the cracks. There is an expectation of more supply coming online as refineries come out of maintenance, while petrochemical demand remains weak. The front NWE
US LPG production remained robust above 2.8mb/d, with export volumes fluctuating between 1.6mb/d and 2.1mb/d, driving stock build variations. Early in the month, LST was well supported by a rebound in FEI and strong hedging demand, especially in Cal LST
The Aug’25 Brent futures contract traded between $65.14/bbl and $65.91/bbl for most of the afternoon. The contract fell to $64.48/bbl at 16:18 BST but has slightly recovered to $64.69/bbl at 17:30 BST (time of writing). In the news, US crude
The Aug’25 Brent crude futures rose to $65.95/bbl which proved to be a level of resistance as prices failed for the second time to breach this level after failing initially last night. Prices dropped to $65.65/bbl by 11:30 BST (time
