The run-up of anticipation and speculation ahead of the ‘Liberation Day’ tariff announcements by President Trump pushed RBOB futures higher. Jun’25 RBOB futures closed at over $2.30/gal on 02 Apr but gapped down the following day and fell to find
Another week brings another selection of new trade ideas from Onyx Research, this time looking at trades in propane and jet fuel swaps. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven tradecraft
Brent: Catching its breath? Last week, the tariff brinksmanship between the US and China saw China go toe-to-toe with escalatory reciprocal US tariffs, which ratcheted up to 145%. Yet, the rest of the world got a reprieve, with reciprocal tariffs
The Jun’25 Brent Futures contract saw prices fall to $64.58/bbl at 08:07 BST before slowly rallying up to $65.72/bbl at 11:30 BST (time of writing). Oil prices edged up Monday, helped by US tariff exemptions and strong Chinese crude imports,
In the week ending 08 Apr, the benchmark crude futures contracts (Brent + WTI) witnessed a bearish shift in sentiment, with long-positioned money managers trimming a total of 165mb (-28% w/w). At the same time, short-positioned players were seen adding
The Jun’25 Brent Futures contract saw prices dropping to $62.96 at 14:31 BST and have since rallied up to $64.12/bbl at 17:35 BST (time of writing). Two Chevron-chartered tankers carrying Venezuelan crude are stranded after PDVSA revoked their export clearances,
In early April, the fuel oil complex benefitted strongly from weaker crude, at least in the cracks, where both HSFO and VLSFO cracks rallied in both regions. Notably, the May’25 380 crack saw an upside breakout, rallying from -$3 to
The Jun’25 Brent Futures rallied up to $64.36/bbl this morning at 07:47 BST before quickly falling to $63.44/bbl at 09:03 BST and again to $62.89/bbl at 10:10 BST. Prices have since seen some support moving up to $63 .61/bbl at
Jun’25 Brent Futures dropped to almost $62.00/bbl around 15.08 BST before recovering to around $63.60/at 16.40 BST and is around $62.75/bbl at 17.35 BST (time of writing). The EIA cut the non-OPEC 2025 supply growth estimate to 1.26mb/d (was 1.43
The trade war is definitely on – for the most part. After spooking global markets, sending M1 Brent sub-$60/bbl for the first time since March 2021 and 10-year yields rallying, US President Donald Trump announced a 90-day “PAUSE” and discounted
The Jun’25 Brent futures contract saw a another volatile morning. Prices gapped down overnight to $64.87/bbl and then slowly moved up to $65.23/bbl at 08:00 BST before falling down to $63.47/bbl at 09:57 BST, they have since jumped back up
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
Major propane benchmarks witnessed substantial weakness into April 2025 – with the weakness concentrated in the Far East propane Index (C3 FEI).
The prompt Jun’25 Brent Futures saw prices rally up to $61.03/bbl at 14:40 BST before falling down to $59.61 around 16:10 BST. Prices have since crawled back up to $60.59/bbl at 17:40 and have jumped up to $64.90 at 18:54
The Jun’25 Brent futures contract saw prices gap down last night to $60.43/bbl, seeing some support throughout the morning eventually reaching a peak of $61.48/bbl around 08:40 BST. At 11:20 BST, prices dropped down to $59.79/bbl, reaching the lowest since
