CFTC Predictor: Products 1 Brent 0
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.
News
Brent Plummets to $83/bbl Handles
The July Brent futures flat price has had an action-packed afternoon. Having initially found resistance at $85.30/bbl, prices dropped to $84.80/bbl, before immediately rallying to the afternoon’s high of $85.80/bbl. Subsequently, from 15:30 BST onwards, the price collapsed below $84/bbl and is hovering around $83.75/bbl at 17:15 BST (time of writing).
Dated Brent Report: Natty or Juice?
The buyside players in previous physical windows were notably absent in the cash on expiry day, showing that the bullish sentiment was just not it.
Brent Plunges To $85/bbl Handles
The July Brent futures flat price reached a peak of $87.75/bbl at 13:45 BST before collapsing to a low of $85.46 at 14:40 BST. Since then it has retraced higher and is currently hovering around $86.20/bbl handles.
Gasoline Report: EBOB in the Driving Seat
EBOB cracks saw a fortnight of two halves with the Jun crack first selling off and then recovering to $23.40/bbl come Apr 29.
Brent Steady in $87/bbl Handles
The July Brent futures flat price has been well-supported this morning following a rangebound night and a subsequent drop. Between 01:00-06:00 BST prices hovered between $87.00-$87.20/bbl, after which a low of $86.84/bbl was reached at 06:45 BST. Subsequently a rally to $87.40/bbl handles has been seen at 10:55 BST.
Trade Wars: Revenge Of The Alpha
With another week comes a fresh slew of trade ideas by Onyx Research.
Brent at $87.50/bbl Amid Choppiness
The July Brent futures flat price has seen a downturn this afternoon, with price action initially rising to $88.20/bbl at 12:50 BST, before dropping as low as $87.08/bbl at 16:00 BST.
CFTC Report: Bulls Become Bears
For the week to Apr 23, we saw similar positions adopted by bullish money managers across the two benchmarks, whilst their bearish counterparts opposed one another.
Futures Report: Future rate cut? Actually, never mind…
Technical indicators show that the July Brent futures contract still trades in the neutral territory although with a low RSI reading and amid narrowing Bollinger bands, signalling limited volatility.