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Dated Brent Report – When The Music Stops

July 23, 2024

What goes up, must come down, and it really feels like we have reached an inflection point in Dated Brent, or inflexion point as the Americans spell it. As usual, it is all eyes on America, and what the changing political tides will mean for the oil market, geopolitics, and the financial markets at large. But that is a discussion reserved for Q4. The Dated Brent market is all about the here and now, and that is what we will focus on.

European Window: Brent Dips Into An $80/bbl Handle

July 23, 2024

The September Brent futures flat price has capitulated this afternoon, falling from $82.30/bbl at 12:10 BST down to a low of $80.50/bbl at 16:55 BST, before retracing up marginally to $80.75/bbl, where it sits as of 17:05 BST (time of writing).

Gasoline Report: Illiquidity Trap

July 23, 2024

The gasoline market continues to float without direction, riddled with illiquidity as players lament and let go of all hope for the summer. EBOB cracks have been particularly hit this fortnight due to Europe losing the New York Harbor as a demand outlet as demand for gasoline becomes increasingly muted.

The Officials: The Bigger Barf…Dubai

July 23, 2024

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.

Onyx Alpha: Summer Sale

July 23, 2024

With another week comes another selection of new trade ideas by Onyx Research. Our weekly Onyx Alpha report presents speculative and hedging trades based on technical analysis and data-driven tradecraft methods on Onyx Commitment of Traders (COT) and Flux Financials data.

Daily Trade Idea: 23/07/2024

July 23, 2024

Long Aug/Sep 3.5 Barges Since the start of July, Barge spreads have come off, it seems that it has found support at $5/mt levels as it has struggled to break past, we have also seen recent strength in the Barge

The Officials: Brent takes a tumble

July 22, 2024

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.

European Window: Brent Dips Below $82/bbl

July 22, 2024

The September Brent futures flat price has had an afternoon of two distinct halves, initially falling from $82.40/bbl at 12:30 BST to $81.65/bbl by $81.65/bbl, before then recovering these losses to sit at $82.30/bbl as of 17:15 BST (time of writing).

Brent Forecast: 22nd July 2024

July 22, 2024

Rebalancing in High Volatility We expect Brent prices to remain in the low $80/bbls this week – despite a less saturated buy-side market – because of a slew of refreshed bearish bets from funds and negative net positioning by CTAs.

Futures Report: So Long, Joe. So Short, Brent.

July 22, 2024

Technical indicators showed the major futures contracts selling off at the end of last week, highlighting oversold conditions for Brent, ICE LS gasoil and RBOB – based on both the RSI and Bollinger bands for the latter two.

CFTC Weekly: Bulls Banished to WTI Futures

July 22, 2024

In the week ending 09 July, managed-by-money participants took a risk-on approach to the benchmark Brent and WTI crude oil futures, adding a combined 13.5mb (+2.47%) to their long positions and a 1.6mb (+1.35%) to their short positions

The Officials: The Big Barf…Brent, Bye Then

July 22, 2024

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.

Daily Trade Idea: 22/07/2024

July 22, 2024

Short Sep Sing 0.5% Crack With more low sulphur fuel oil cargoes arriving from the West to add to existing stockpiles, we expect LSFO to come under pressure. There has been sluggish demand in the world’s largest bunkering hub of

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