The Dec’24 Brent futures contract began the afternoon weaker, falling to $70.40/bbl at 14:50 BST. While this level brought in support for the soon-to-be-prompt contract, which climbed to $71.60/bbl as of 17:00 BST, it ultimately softened to $71.00/bbl at 17:35
After selling-off overnight, the Dec’24 Brent futures contract was on a steady upward trend this morning, trading at $71.30/bbl at 07:00 BST and rising to $71.76/bbl as of 11:30 BST (time of writing). In the news today, Chinese leaders at
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
US Mont Belvieu TET propane (LST propane) strengthened this fortnight, on a flat price basis, with the Oct’24 contract climbing from 68.25c/gal on 11 Sep to 73.50c/gal on 24 Sep
After a relatively stable morning, price action in the Nov’24 Brent futures contract saw weakness and volatility this afternoon. Initially oscillating between high $73 and $74/bbl handles from 12:00 to 17:00 BST, price action then plummeted at 17:18 BST by
The Nov’24 Brent futures flat price was volatile this morning, trading at $74.90/bbl at 07:00 BST and reaching a high of $75.25/bbl at 10:00 BST before falling to $74.63/bbl around 11:30 BST (time of writing). Price has fluctuated in light
It was a paradigm shift in the Brent/Dubai crude market as the orderly downtrend in Brent/Dubai gave way to a mighty rally on 26 August following Brent’s rally on the Libyan supply disruption news. The Sep’24 Brent/Dubai widened from $0.30/bbl
After this morning’s rally on the back of substantial monetary policy easing announcements in China, the Nov’24 Brent futures contract dipped over the course of this afternoon, trading at $75.51/bbl at 12:00 BST and declining to $74.90/bbl at 17:20 BST
The Dated market has seen a supported fortnight, with the soon-to-be Bal Oct’24 DFL rallying from a small contango on 10 Sep to nearly hitting $1/bbl by 23 Sep before softening to $0.65/bbl the following day (at the time of
Another week brings another selection of new trade ideas from Onyx Research, this time looking at trades in Brent/Dubai, Eastern MOPJ naphtha, and Sing 92 gasoline swaps.
Nov’24 Brent futures contract found strong support this morning, trading at $74.70/bbl at 07:00 BST and reaching $75.86/bbl at 11:20 BST (time of writing). In the news today, Iran’s President Masoud Pezeshkian declared that he does not want to enter
After sideways price action this afternoon, Nov’24 Brent futures contract gradually fell from $74.69/bbl at 12:00 BST down to $73.16/bbl at 17:25 BST (time of writing). In the news today, China’s Russian oil imports have jumped 25.6% m/m in August
The naphtha market has witnessed remarkable strength on a crack basis into the new month, with the softness in naphtha offset by a weaker Brent futures complex in Northwestern Europe and Asian markets. For instance, while the Oct’24 NWE crack
The Nov’24 Brent future has seen strength in the week but failed to hold for long above $75.00/bbl. The main bullish driver for the week seemed to be the 50bp interest rate cut in the US, although the flaring up
Money managers were risk-off in the benchmark crude oil futures over the week ending 17 Sep.
