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Quiet But Stronger Afternoon For Brent

Prompt Brent futures flat price has witnessed a quieter afternoon period, albeit a stronger one as prices have risen by around $1. Price action fell to lows of $86.22/bbl at 12:15 BST, but at this level participants were happy to add some length as prices retraced higher to $87.67/bbl at 16:05 BST.

Brent Futures: Volatile Surge but Ultimate Fall 

Jun Brent futures flat price witnessed another bout of volatility overnight with price action rallying from below $87/bbl at 01:25 BST to $90.55/bbl at 03:45 BST before ultimately easing off to $86.75/bbl come 11:10 BST

Volatile Afternoon For Brent

Prompt Brent futures flat price has witnessed a mixed afternoon period. Prices initially rebounded from low $86/bbl lows in the morning to reach $87.64/bbl at 14:00 BST.

TMNs: Make Oil, Not War

Last week ended with Brent finally breaking into $91/bbl and briefly hitting $92/bbl as the world grappled with the eventuality of Iran striking Israel, following an attack by Israel on Iran’s embassy in Damascus.

CFT- See the Futures…

In addition to our regular Monday CFTC COT analysis report, Onyx Insight will publish its own in-house CFTC COT forecast ahead of the official Friday report. The model forecasts changes in long and short positions using machine learning, utilising Onyx’s proprietary data.

COT Report: NEW DESIGN

As players remain uncertain about wartime risk premia impacting the futures, the volatility appears to have hit oil products in varied ways. See all the updates across the barrel in this week’s Onyx Commitment of Traders report, as well as 6 one to watches for the week ahead. 

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