The Risk is On: CFTC Weekly Analysis
April 15, 2024
For the week to Apr 09, we saw money managers add to both their long and short risk in the both Brent and WTI futures….
Reports
Brent Softens To Below $90/bbl
April 15, 2024
The Brent futures flat price for the prompt contract has witnessed a weaker morning, falling from highs of $90.64/bbl in the early hours to lows of $89.23/bbl at 09:05 BST. Prices saw a slight uptick since, printing at $89.69/bbl at 11:20 BST.
Brent breaks into $91/bbl Territory
April 12, 2024
Jun Brent flat price has seen an interesting afternoon amid price action finally breaking into $91/bbl handles at 13:30 BST and hitting a peak of $92.10/bbl at 15:25 BST.
Waha-ha-ha-ha Hub – LNG Market Report
April 12, 2024
As crude prices strengthen, producers remain keen to keep crude flowing. However, these wells in the US produce natural gas as a by-product, leading to an even greater supply glut.
Brent Strengthening Back Towards $91/bbl
April 12, 2024
June Brent futures flat price maintained strength in the $90/bbl handles this morning. Initially prices hovered around $90.20/bbl during the early hours, before support has seen price action push towards the $91/bbl mark, printing at $90.76/bbl at 11:20 BST.
Brent Finds Resistance at $90/bbl But Support at $89.70/bbl
April 11, 2024
Jun Brent futures flat price oscillated in and out of $90/bbl handles all afternoon, reaching a low of $89.40/bbl around 15:50 BST before correcting to $90.05/bbl at 17:10 BST but falling to $89.90/bbl handles come 17:20 BST (time of writing).
TMNs: Brent Playing Bogey Golf – Trying To Shoot Above 90
April 11, 2024
We have been holding firmly in the $90/bbl levels for Brent this week, with investors poised for the Middle East situation to possibly deteriorate, which could involve Iran, the third-largest oil producer in OPEC.
Brent Struggles to Break into $91/bbl
April 11, 2024
The prompt Brent Futures contract saw a stable start to the morning, rangebound between $90.40/bbl and $90.90/bbl before seeing a strong correction downwards from 09:30 BST to settle at $90.06/bbl at 10:20 BST.
CFTC Predictor – Risky Business in Brent
April 11, 2024
In the week to April 9th, our tool forecasts long speculators added to their positions for the fourth consecutive week while at the same time, short money managers are forecast to have also added to their positions after three consecutive
Brent weakens on EIA-announced crude build
April 10, 2024
June Brent futures flat price witnessed a choppy afternoon, rallying back into the $90/bbl region at 14:10 BST but failing to maintain this level and falling to $88.95/bbl come 16:10 BST.
Putting The ‘L’ in LPG
April 10, 2024
The LST/FEI arb witnessed notable weakness in the first week of the fortnight. Prompt prices fell from -$160/mt on Mar 27 to lows of -$186/mt come Apr 02, before retracing to above the -$180/mt mark for the rest of the week.
From the F1 to the Trading floor; Onyx Capital Group Welcomes Chris Gooder as Performance Director
April 10, 2024
Onyx Capital Group is proud to announce the appointment of Chris Gooder as the new Performance Director for Trading. With a distinguished background in Performance Psychology, including notable experience in Formula 1, Gooder brings a wealth of expertise in optimising
Brent Softens Below $90/bbl
April 9, 2024
Prompt Brent futures flat price has witnessed a relatively weak afternoon period. Prices were initially stable around the $90.50/bbl mark, reaching highs of $90.71/bbl at 13:10 BST. However, since then prices slipped lower, reaching $89.56/bbl at 16:12 BST.
Naphtha Report: FLOP-J
April 9, 2024
This past fortnight has seen a far weaker naphtha complex in both regions, yet, the East has performed slightly better in the past couple days.
Brent/Du-buy buy buy: Dubai Market Report
April 9, 2024
The past fortnight forced the May Brent/Dubai out of its range, with price action plummeting from +15c/bbl on Mar 25 to a low of -40c/bbl on Apr 02.