The Officials: Benchmark Fighter Federations Let Loose
From East to West, from trading companies to majors, from Dubai to Brent, the rival BFFs are letting loose their cannonades on one another.
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CFTC Predictor: Have the Bulls Been Halted?
In addition to our regular Monday CFTC COT analysis report, Onyx Insight will publish its own in-house CFTC COT forecast ahead of the official Friday report. The model forecasts changes in long and short positions using machine learning, utilising Onyx’s proprietary data.
Overnight & Singapore Window: Brent Trading Flat Above $85/bbl
The August Brent futures flat price has had a relatively flat morning, trading between $85/bbl and $85.40/bbl, aside from a brief fall at 08:45 BST to $84.95/bbl.
European Window: Brent at Highest Since April
The August Brent futures flat price recorded a strong afternoon, climbing to $85.60/bbl at 14:00 BST before falling 20c in the next 10 minutes to eventually rally to $85.80/bbl at 16:05 BST, the highest value for the M2 futures contract since the end of April’24….
LPG Report: US Propane Rally? Blink and You’ll Miss It
It was a fortnight of two halves for the LST/FEI as price action in the prompt rallied to -$200/mt but has subsequently fallen off.
Overnight & Singapore Window: Brent Comfortable Above $85/bbl
The August Brent Futures flat price has been fairly flat this morning following a brief drop-off from $85.40/bbl to just below $85/bbl between 07:00 BST and 07:45 BST.
Daily Trade Idea: 19/06/2024
Short July 0.5% Sing Crack With cargos of LSFO arriving from Dangote refinery in Nigeria we have seen cracks come off. Demand is still tepid at best, so we are following the trend with this trade. For brokerage services across
European Window: Brent Hits $85/bbl
The August Brent Futures flat price has had a strong afternoon, following an initial flat period from 12:00 BST to 14:00 BST. The price rallied from $84.20/bbl at 14:05 BST to $85.25/bbl at 16:20 BST, after which it has retraced to below $85/bbl
Naphtha Report: Spreading Strength
The dichotomy between a weaker physical and stronger financial market continues to linger in the naphtha complex. This divergence is perplexing especially when considering the acute weakness in gasoline.
Dubai Market Report – Dubai? More like Do-sell!
It seems like the flipping of the calendar month has brought with it a debilitation of Dubai’s strength. The prompt contract has returned to what would be arguably ‘normal’ positives, considering the makeup of the barrel.