Brent Trades In A Narrow Range Around $83/bbl Handles
The Aug Brent futures flat price has had a fairly flat morning, trading in a narrow range between $82.75/bbl and $83.15/bbl.
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Daily Trade Idea: 28/05/2024
Short Jun 0.5 Euro crack European 0.5 Barges has been very weak recently due to tepid demand alongside Europe ample stock piles. We have seen a slight pull back in Euro 0.5 Euro which is now entering the overbought zone
Futures Report: Brent Hardly Breaks the Bank (Holiday)
Technical indicators indicate an RSI that has lifted out of oversold territory for Brent, ICE gasoil and RBOB gasoline futures although other indicators flag short-term bearish momentum
CFTC Weekly: Another week in favour of the Brent bears
For the week to May 21, we saw differing positions adopted by money managers and prod/merc players across the two benchmarks.
Brent Climbs Amid Thin Volumes
The Aug Brent futures flat price primarily traded around $82.10/bbl all morning although it ultimately climbed to $82.35/bbl as of 11:15 BST.
Brent Gains This Morning Losses at $82/bbl
The July Brent futures flat price has had a strong afternoon, mitigating the losses it saw this morning. The contract kicked off the afternoon at lows of $80.80/bbl at 13:50 BST before seeing a stellar rally up to $82.15/bbl at 17:00 BST.
LNG Market Report: Will the Bulls Evaporate in this Heat?
The National Grid announced its plan to sell Britain’s largest liquefied natural gas (LNG) terminal, Grain LNG, as part of its strategy to streamline operations and focus on networks, as stated during the presentation of its 2023/24 business year earnings.
Brent Softens Below $81/bbl Handles
The July Brent futures flat price softened over the morning, from around $81.40/bbl at 0730 BST to $80.70/bbl at 1115 BST (time of writing).
Daily Trade Idea: 24/05/2024
Long Jun 380 Crack Tighter supplies and relatively healthy downstream demand have strengthened the Asian high sulfur fuel oil complex in recent weeks, although we have seen a drop in the last couple of days we believe it has found
Brent Drops To Mid $81/bbl Handles
The July Brent futures flat price has completely shredded the gains it made this morning. Having begun the afternoon well-supported, the price rose from $82.35/bbl at 12:55 BST to $82.95/bbl at 14:30 BST, however it was then crushed down to $81.30/bbl handles, where it currently sits as of 17:10 BST