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Welcome to our Live Blog of rumours and hearsay in the oil market & beyond throughout the day If you hear otherwise, let us know at jmontepeque@onyxcapitalgroup.com or WhatsApp me at https://wa.me/447817149889

“OPEC+ will need to maintain its current voluntary restraint to balance out growth… This will help prevent global balances from weakening at year-end and preserve a price floor at around $80 a barrel.” – Harry Tchilinguirian Follow Harry on X

Long Aug 3.5 barge crack Structure-wise we have seen Barge cracks create a higher low and starting to push up, its recovering from the oversold territory on the RSI indicating for a potential bullish push, alongside market participants are positioned

Long TA Arb at 12c/gal  APIs were quite bullish, showing a 2.8M draw. If today’s EIA statistics are close to these figures, we should expect a bullish movement on RBOB. Additionally, the EBOB front has been sticky due to the

Long Aug/Sep 3.5 Barges Since the start of July, Barge spreads have come off, it seems that it has found support at $5/mt levels as it has struggled to break past, we have also seen recent strength in the Barge

Short Sep Sing 0.5% Crack With more low sulphur fuel oil cargoes arriving from the West to add to existing stockpiles, we expect LSFO to come under pressure. There has been sluggish demand in the world’s largest bunkering hub of

Long Aug/Oct 3.5% Barge Over the last couple of days, we have seen Aug/Oct fall from $19.50 to $13.50. We’re seeing a shift in sentiment this morning at barge cracks, and spreads are being well-bid with little sell side interest

Onyx remains unaffected from the global IT outage and our services continue to function normally without disruptions.  Our IT team has confirmed the stability and security of our infrastructure. We will continue to monitor the situation closely and provide updates

With European VLSFO in backwardation in the prompt months, physical traders will note that the arb is open and we should see VLSFO from Europe start to flow to Asia.

Long Aug/Sep 380 China’s average daily oil refining throughput slowed in June, a third month of declines, after more domestic plants shut their operations for maintenance. The Asian nation processed 58.32 million tons of crude last month, 4.3% lower than

Long Aug TA Arb @  9.90c/gal After the recent sell off in the front TA Arb we have started to see some support at these levels and expect buyside interest to enter the market.

TARGET: $86.00/bbl – $88.00/bbl PRICE: $86.10/bbl Party in the USA? Brent appears confident to break a four-time streak of ending the week stronger than where it began, amid a fall from last week’s rally to a four-month high. Despite this,

SHORT SEP 3.5 BRG CRK Temperatures in Europe have been well above seasonal norms and there’s little sign of that changing anytime soon. Looking further into the future, Sweden’s largest refiner says climate change is making fuel production harder. Temperatures

LONG AUG VISCO Visco have been weakened lately by poor physical demand and trade house selling.  It has seen some recovery this week with better demand for 180, as cooling demand has increased due to hot weather in the Middle

In this white paper, Onyx’s team explores the effectiveness of the CFTC COT Report in analysisng market positioning in the oil derivatives complex. Analysis suggests that for an up to date, expansive interpretation of current trader positioning for the whole

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.

Technical fluff that has propped up Brent, thanks to a certain pair of hot hands in the North Sea, will likely
prove unsustainable.