Onyx Officials

Our team of skilled analysts, by utilising the depth and breadth of Onyx's market knowledge, grants us an unparalleled perspective in the market, enabling us to identify and report emerging trends.

The Officials: An all you can eat convergence buffet!

1 min read

19 November 2024: 09:30 GMT

Today was a cornucopia of convergences! 7 in fact! 3 more to Totsa, 3 to PetroChina and Equinor collecting the last one. Vitol’s strong showing on the sellside brought a convergence to Totsa, for an Oman, while the French also received Upper Zakums from Unipec and Exxon too. Totsa’s got 13 convergences already in November. Oh boy, they are hungry! Light work for a major with such a huge appetite! The waiter just can’t keep up, bringing platter after platter to the ravenous patron. Meanwhile, PetroChina collected three Upper Zakums, from compatriots Shenghong and Unipec, as well as Phillips. As the cherry on the convergence cake, Exxon declared an Al Shaheen to Equinor.

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.
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Our team of skilled analysts, by utilising the depth and breadth of Onyx's market knowledge, grants us an unparalleled perspective in the market, enabling us to identify and report emerging trends.