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Daily Trade Idea: 05/06/2024

1 min read

Short Jul Sing 0.5% Crack

Asian low sulphur fuel oil market structure has weakened over the last couple of days of June, with cash differential for the marine fuel grade dropped to a five-week low amid competitive offers and weaker deals for June-loading physical cargoes. There is persistent lacklustre bunker demand in Singapore, which is expected to see additional supplies coming from Europe in the coming weeks.

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Our team of skilled analysts, by utilising the depth and breadth of Onyx's proprietary data, position ourselves at the cutting edge of market analysis. This unique vantage point grants us an unparalleled perspective in the market, enabling us to identify emerging trends and lucrative opportunities.