Overnight & Singapore Window: Strong Morning in Brent
June 24, 2024
The Aug Brent futures contract has seen a strong morning, rallying from $85.05/bbl at 07:20 BST to $85.55/bbl as of 11:00 BST (time of writing).
Reports
ICE CFTC Weekly: Make Money Managers Bullish Again
June 24, 2024
Bullish money managers returned to Brent futures in the week to 18 June on greater optimism for summer oil demand, while shorts continued to cover their positions. Longs increased w-o-w for the first time in seven weeks, by 41.2mb (+20.7%). On the other hand, short positions declined for the second consecutive week, by 32.7mb (-25%).
Daily Trade Idea: 24/06/2024
June 24, 2024
Short July Arb At these levels we anticipate some physical sell side interest on the front arb, with arb opportunities becoming more favourable. For brokerage services across the barrel and to receive our weekly trade ideas: insight@onyxcapitaladvisory.com
European Window: Brent Hits $86/bbl
June 21, 2024
The August Brent Futures flat price has seen its price exceed $86/bbl for the first time since the end of April this afternoon, however, it subsequently settled back into an $85/bbl handle.
LNG Market Report: How Funda(mental) is Asian LNG?
June 21, 2024
The European Union has agreed on the contents of a 14th sanctions package against Russia, aiming at the latter’s LNG sector for the first time.
The Officials: Singapore Says “Let’s Bunk Up”
June 21, 2024
In Asia, the Dubai players were at it again vigorously, with Petrochina playing a less prominent role while
Exxon came out swinging.
Brent Review: 17th June 2024
June 21, 2024
TARGET PRICE: $82/bbl – $84/bbl PRICE: $85/bbl Is Summer Demand Finally Here? The crude oil futures market is on track for its second consecutive weekly gain on signs of better demand as Brent futures rallied to seven-week highs. We initially
Overnight & Singapore Window: Brent Rallies to $85.70/bbl
June 21, 2024
The Aug Brent futures flat price reached $85.75/bbl at 07:20 BST, following which the contract dived to $85.35/bbl at 09:35 BST. The futures contract again rallied to $85.75/bbl at 11:20 BST but has since eased to $85.60/bbl at 11:10 BST (time of writing). EIA data for the week to June 14 showed that total product supplied, which tends to be a proxy for the country’s total oil demand…
The Officials: Hey, do you want a piece of me?
June 20, 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 Flirts With $86/bbl
June 20, 2024
The August Brent futures contract traded above $85/bbl all afternoon, rallying sharply to $85.90/bbl at 14:20 BST.
TMNs: One Long Day in Brent
June 20, 2024
June 19 was an eventful day for several reasons, including Just Stop Oil turning Stonehenge orange, Albania recording this Euros’ fourth own goal, Justin Timberlake getting arrested by a young cop who failed to recognise him and, of course, the front-month Brent futures rallying to a seven-week high to $85.90/bbl.
The Officials: Benchmark Fighter Federations Let Loose
June 20, 2024
From East to West, from trading companies to majors, from Dubai to Brent, the rival BFFs are letting loose their cannonades on one another.
CFTC Predictor: Have the Bulls Been Halted?
June 20, 2024
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
June 20, 2024
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
June 19, 2024
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….