The naphtha complex has seen a stronger fortnight, likely aided by weakness in crude. This trend was evidenced in price network analyses, which highlighted weakness in MOPJ and NWE naphtha despite both contracts being stronger on a crack basis.
Long Jul 380 Crack With recent U.S data released it has implied the U.S economy is experiencing more contraction which has put aggressive downward pressure on Brent, with demand for 380 increasing supported by prompt spread buying, we believe the
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.
With another week comes another selection of trade ideas from 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.
The August Brent Futures flat price has continued its sickly streak, falling from $77.85/bbl at 05:35 BST to a low of $76.80/bbl at 10:30 BST.
Onyx Capital Group is proud to announce the launch of ‘The Officials’, a publication highlighting and providing fair values for the main derivative energy markets.
A Glimmering Summer Hope – Outright prompt month Brent has been resilient this month, with longs selling out of contracts in all major futures and building up a net short position from Money Managers.
The Aug Brent Futures flat price fell off a cliff this afternoon, dropping to levels not seen since early February. Having remained comfortably above $81/bbl until 13:40 BST, the prompt contract collapsed over the following three hours to hit a low of $78.25/bbl at 16:50 BST.
Onyx is delighted to welcome Harry Tchilinguirian as Group Head of Research. With an illustrious career spanning over three decades in research within the commodity markets, there is nobody better equipped to take on the unique and specialised role as
For the week to May 28, we saw differing positions adopted by money managers, whilst prod/merc players were similar in their risk-on sentiment across the two benchmarks.
Technical indicators showed all products seeing volatility decreasing in the week, with the Bollinger bands narrowing.
Over the weekend, OPEC+ announced the extension of their oil production cuts into 2025, with the possibility of unwinding voluntary cuts from October 2024.
The August Brent Futures flat price saw a rangebound morning trading in a tight range between $80.80/bbl and $81.50/bbl. As at 11:25 (time of writing) it is on a slight downward trend at $80.95/bbl.
Trade Idea 1: Long Jul TA Arb A closed transatlantic arb currently should be putting pressure on NYH prices to increase relative to Europe to incentivise more bbls moving. Although there are multiple ways the physical arb can open back
The August Brent Futures contract saw a weak afternoon where prices initially saw strength rallying to an intraday high of $82.62/bbl as of 14:00 BST. Yet, after this initial strength, we saw a continuous tumble throughout the afternoon down to $81.00 as of 17:00 BST.
