The Mar Brent futures contract has been strengthening throughout the afternoon, reaching highs of $79.94/bbl at 16:30 GMT and later retraced to trade at $79.84/bbl at 17:05 GMT (time of writing). WTI prices also found support and traded at $74.80/bbl at 17:00 GMT. Geopolitical concerns continued to support the crude complex.
Brent futures strengthened on the week although remained within neutral territory, with the RBOB and gasoline following in Brent’s neutral footsteps. WTI/Brent boxes remained in contango despite strength in the prompt while refinery margins saw a product driven market with
Mar Brent futures were seen supported over the last week amid uncertain fundamentals in the context of a still-raging conflict in the Red Sea.
Brent saw a continuation of bullish money manager positioning in the week to Jan 16, whilst WTI futures saw a change of heart, flipping to a more bearish stance after being seemingly bullish the week prior. Combined positioning saw an
The Brent futures flat price for the prompt contract has seen a relatively stable morning. Initial weakness saw prices dip below the $78/bbl mark, falling to $77.84/bbl at 09:00 GMT, before buying interest saw price action climb back to $78.71/bbl
This week we are going to look at some updates in the LPG market, where the market’s been shifting faster than a trucker on the last leg of a cross-country coffee-fuelled haul. It hasn’t exactly been smooth sailing in the
These last two weeks in LNG: we have seen a lack of support despite freezing weather as most LNG benchmarks were seen weakening, with Mar TTF notably trading from €34/MWh on Jan 05 to €27.97/MWh on Jan 18. Storage is decreasing but market participants are not worried.
The Mar Brent futures contract has been strengthening throughout the afternoon, reaching highs of $79.18/bbl at 17:20 GMT (time of writing). WTI also found strength throughout the day with the Mar contract trading at $73.04/bbl at 14:00 GMT and later
Brent futures found some relative stability this past week, indicating a lack of clear axe from both the bulls and the bears. Prompt Brent futures climbed to $78.29/bbl on Jan 12 and continued to settle in the following days around
First LPG Report – A key macroeconomic factor this fortnight has been the Texas freeze, which has not only increased LPG demand, but has also stymied production.
The Brent futures flat price for the prompt contract has seen a relatively quiet morning reaching highs of $78.43/bbl at 08:00 GMT, before falling to $78.01 at 08:25 GMT and then coming off further to below the $78/bbl mark, hitting
Brent prices for the Mar tenor hit a zenith of $79/bbl at 13:20 GMT but were sold down to below $78/bbl by 15:40 GMT, ultimately climbing to $78.50/bbl as of 17:00 GMT (time of writing).
After a relatively rangebound week to Jan 11 for Feb Brent/Dubai, oscillating around the 30c/bbl mark, price action soared – rising over 80c/bbl in less than a week to reach highs of 102c/bbl on Jan 16. Jan 12 was the catalyst rising over 50c/bbl intraday.
The Brent futures have been coming off overall throughout the day, reaching lows of $76.87/bbl at 13:00 GMT. The contract then retraced higher, trading at $78.14/bbl at 17:00 GMT (time of writing).
