22 August 2024: 09:30 BST
Vitol doesn’t just set the floor in Dubai; they lift it. The Dubai physical premium (Physical minus M+2) rose 5c
to 87c, while the Dubai physical discount relative to October Brent futures continued to narrow from
-$1.86/bbl on August 13 to as tight as -$0.92c today. Dubai has outperformed and kept its cool, while Brent
has absolutely cratered. Vitol kept on picking up cargoes in the rather sparse window this morning. Gunvor
was, of course, close by lifting cargoes alongside their BFF
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).
For any comments, please reach out to us through the emails provided in the signed documents.
