Comfort Zone: Dubai Market Report
March 26, 2024
This fortnight in the Dubai market, we see the market once again tied to ranges.
Reports
Maintenance
March 26, 2024
With maintenance barrels being priced, the North Sea crude market saw an incredibly bearish week in the prompt as physical differentials surged below $0/bbl into the end of last week…
Nimbostratus Naphtha
March 26, 2024
This past fortnight has seen a generally weaker naphtha complex in both regions, yet, more exacerbated in the East, as Apr E/W fell to single digit figures.
Brent Futures Sideways at $86/bbl
March 26, 2024
The Brent futures flat price for the June contract has had a rangebound morning. Price action saw a small surge reaching $86.23/bbl at 09:15 GMT, before coming back down to just below the $86/bbl mark by the time of writing (10:00 GMT).
Trade Wars: A New Alpha
March 26, 2024
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.
Brent finds support as Russia tightens supply
March 25, 2024
The Jun Brent futures contract strengthened over the afternoon, climbing to $86.40/bbl at 14:50 GMT, but retraced to $85.90/bbl at 17:10 GMT.
CFTC Report: Goodness Gracious, Great Bulls Of Fire
March 25, 2024
For the week to Mar 19, the crude futures witnessed an atmosphere of bullishness from money managers.
Futures Report: Price Action Stagnation
March 25, 2024
Technical indicators for June revealed a week of consolidation and widening Bollinger bands. Brent’s RSI briefly entered overbought territory before coming off as prices corrected lower.
This Week’s Target Price: $86-87/bbl
March 25, 2024
Oil prices registered some strength overnight on the back of support generated in the early hours of Asian trading with the Jun Brent futures climbing to $85.40/bbl at 03:20 GMT. The futures eased to $85.35/bbl come 09:20 GMT, but remain elevated compared to last Friday’s plummet into the sub-$85/bbl handles.
Brent Finding It Hard To Remain Above The $86/bbl Mark
March 25, 2024
The Brent futures flat price for the prompt contract has seen a relatively volatile morning. Price action initially held just below the $86/bbl mark, however, after reaching lows of $85.55/bbl at 08:45 GMT, prices found support to climb to $86.17/bbl come 09:40 GMT.
Brent Poised to Remain Unchanged on the week
March 22, 2024
The May Brent futures contract is poised to end the week largely unchanged amid prices having coming off from $86/bbl at 13:20 GMT to $85.30/bbl at 17:20 GMT (time of writing).
Fuel Oil: 380? More like 480
March 22, 2024
The HSFO complex saw huge swings in price action which ultimately culminated in a softening of the East/West on fears of poor Chinese demand at these higher flat price levels (around $480/mt in the prompt 380).
Brent Futures Finds Support at Low $85/bbl Handles
March 22, 2024
The May Brent futures contract opened in the low $85/bbl handles this morning before witnessing support take prices to $85.75/bbl at 10:20 GMT (time of writing).
Brent Softens To $85.45/bbl
March 21, 2024
The May Brent futures contract weakened further to the $85.20/bbl handles at 15:00 GMT where it found support and printed $85.45/bbl at 17:20 GMT (time of writing).
SPR-U-Kidding Me?
March 21, 2024
Oil finally soared over $150/bbl as the US raced to fill up the SPR to 2022 levels… and then I woke up. It was a crazy couple of hours as traders asked themselves “What the hell does Jennifer Granholm mean?” and the answer was clear – she doesn’t know what she means.