11 September 2024: 16:30 BST
What a rollercoaster of a day. Flat price is swinging about like an autumn leaf in a stormy day, up and down it goes with a logic of its own as bulls and bears battle for dominance. Lows and highs since Asia opened range from $69.06 to $71.04/bbl. Bearish macros versus bullish micros make the price swing around. The grinding macros don’t change in hours but sometimes traders have group epiphanies. APPEC is great for that, as the trader collective buzzes about like a bunch of borgs infecting each other with the latest group think virus. Overall, the mood is bearish.
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.
