9 September 2024: 09:30 BST
‘The market is max short,’ said a trader for a national oil company. ‘China has been a serial disappointment,’ he added. He thought that there could be a short-term bounce as the short cover back their positions. This short-term event is indeed happening as evidenced by Dubai and Brent rose in early Asian trade. The Asian benchmark consolidated its lead over the beleaguered Brent, rising 2c further to a 35c advantage.
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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