29 October 2024: 09:30 BST
In the window today we got a frenzied cat and mouse. Or perhaps more like a bull and a cowboy, between Totsa and Chevron. Despite le Totsa Taureau’s best efforts, the physical premium got slammed down to 78c in the penultimate Asian trading day of the month. That’s half the value of October’s average premium! Chevron’s cattle wranglers were hitting bids as soon as they landed on the table, catching Totsa in a tight lasso. After Chevron declared an Upper Zakum to Total yesterday, the window’s bonanza saw them converge twice more! This time for another Upper Zakum and an Al Shaheen.
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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