22 October 2024: 09:30 BST
Conflict is the gold dust on oil markets. $75.00 market here we are! Post window Brent markets rose up to $75.14/bbl. After a softish close in Singapore, the rumour mill got going about Netanyahu meeting his military leaders this evening. Pardon us, but Mr. N thought he was a hands-on man, who meets with them every day. Never mind, Brent duly responded and showered money to all the longs after trading at nearly $73.50/bbl in the morning. Shorts are an easy market in the period preceding whatever the Israelis want to do. We remain of the thinking that any action will be very limited in nature as the Election is soon and Kamala’s job is on the line.
In ‘The Officials’, Onyx Capital Advisory publishes outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by our team of dedicated professionals.
We invite you to read our reports, which will initially be published twice a day, reflecting closing values at 16:30 Singapore time (SGT) and at 16:30 London time (GMT/BST).
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