31 October 2024: 16:30 GMT
October has been a rollercoaster ride. With fears of chaos from the Middle East, and hurricanes huffing and puffing across the Gulf of Mexico, we’ve seen some big and sudden price moves. Brent even breached the $81/bbl level at the height of war paranoia. Fortunately, Israel’s relatively minor retaliatory strikes soothed concerns, and we ended up only slightly higher than where we started the month. At least until the latest war talk came out this evening about another major Iranian retaliation. OPEC also semi-announced it would not increase production but only the long traders believe them.
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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