1 October 2024: 16:30 BST
The Middle Eastern geopolitical risk premium isn’t entirely impotent anymore, it fires! Iran has shown its ability to send the world into a panic with mere whispers of missiles and bombardments on Israel. The US said it had deployed additional aircraft squadrons to the region, making the announcement almost simultaneous to the breaking of the rumour of Iran’s impending fury, which came shortly before 18:00 BST. We saw last week with the story of Saudi Arabia abandoning its supposed $100/bbl price target how headline-sensitive the markets are. ‘It is clearly the Americans releasing stuff,’ said a source, not entirely sold on talk that the world was coming to an end.
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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