Actionable insights to help you trade with conviction

• Market Commentary,
• Crude

17 March 2025

WTI’s fight to stay cheap in Asia lands it cheaply in Europe

• Market Commentary,
• Crude

10 March 2025

Arbs suggest North Sea crude on shaky ground

• Market Commentary,
• Crude

3 March 2025

Competitive WoS arbs pressuring Eastern grades

• Market Commentary,
• Crude

24 February 2025

Competitive WoS arbs pressuring Eastern grades

• Market Commentary,
• Crude

17 February 2025

Crude market weakens; Ukraine negotiations to rile markets

• Market Commentary,
• Crude

10 February 2025

Western crude gets too cheap

• Market Commentary,
• Crude

3 February 2025

Tariffs (possibly) set for tonight; MEG premiums cool

• Market Commentary,
• Crude

27 January 2025

Crude waits for possible MEG correction

• Market Commentary,
• Crude

20 January 2025

The race for medium sour barrels

• Market Commentary,
• Crude

13 January 2025

Sanctions risks come to the fore

• Market Commentary,
• Crude

23 December 2024

2025 – What lies ahead for Crude?

• Market Commentary,
• Crude

16 December 2024

Arbs East creaking open, WTI Afras price out of NWE

• Market Commentary,
• Crude

9 December 2024

North Sea still to come under pressure; Aramco OSP cuts target China

• Market Commentary,
• Crude

25 November 2024

Signs of life emerge in physical crude; we doubt it’s sustainable in key areas

• Market Commentary,
• Crude

21 November 2024

All eyes on China

• Market Commentary,
• Crude

18 November 2024

Paper crude weakens; physical signals remain lacklustre

• Market Commentary,
• Crude

4 November 2024

US election & Middle East likely to whipsaw crude markets this week

• Market Commentary,
• Crude

28 October 2024

Flat-price tumbles as Israel’s response did not include oil infrastructure and focus returns to lacklustre physical market

• Market Commentary,
• Crude

21 October 2024

Weak European market is now pricing crude to leave the region

• Market Commentary,
• Crude

14 October 2024

Physical North Sea lacks outlets

• Market Commentary,
• Crude

7 October 2024

Spectre of escalation roils paper markets and arb econs

• Market Commentary,
• Crude

30 September 2024

North Sea competitiveness improves abroad and into refineries, but Libya return spells trouble

• Market Commentary,
• Crude

23 September 2024

Crude markets still creaking under the weight of margin pressure

• Market Commentary,
• Crude

16 September 2024

Physical crude looks set to soften further

• Market Commentary,
• Crude

9 September 2024

Physical crude holds up against flat price freefall, for now

• Market Commentary,
• Crude

2 September 2024

Refinery margins & OPEC+ cancel out Libyan bull signal

• Market Commentary,
• Crude

26 August 2024

Risks to the upside grow despite weak product markets

• Market Commentary,
• Crude

19 August 2024

North Sea to remain strong for a few more weeks and Q4 headwinds weakening slightly

• Market Commentary,
• Crude

12 August 2024

Market rebound belies mixed signals in physical crude

• Market Commentary,
• Crude

5 August 2024

Deferred WTI/Brent spreads need to narrow in the short-term

• Market Commentary,
• Crude

29 July 2024

Dated-related crudes remain strong despite small week-on-week softening, while WTI the most attractive WoS grade in the East as wide EFS makes moving grades East tricky

• Market Commentary,
• Crude

22 July 2024

Crude draws in the US boost WTI vs Brent, but prompt waterborne fob keeping WTI attractive into NWE and Far East against North Sea crudes in particular

• Market Commentary,
• Crude

15 July 2024

Cushing rally sees WTI export arbs weaken, with US domestic issues at play

• Market Commentary,
• Crude

8 July 2024

Physical Brent still primed to the downside, with time running out also for a bump in Q3 seasonal buying

• Market Commentary,
• Crude

1 July 2024

Brent strength retained for now while other global indicators of physical crude lag behind

• Market Commentary,
• Crude

24 June 2024

June’s Brent rally has seen the complex price out of Asia, WTI price firmly into Europe

• Market Commentary,
• Crude

17 June 2024

Physical crude continues to slowly recover, but already putting the brakes on Eastern arb econs

• Market Commentary,
• Crude

10 June 2024

Physical market remains bogged down, but green shoots of margin optimism emerge

• Market Commentary,
• Crude

3 June 2024

OPEC+ to bring back volumes (on paper) in Q4, but actual supply to market will be dictated by demand, which for now remains weak

• Market Commentary,
• Crude

27 May 2024

All signs point to weakness in the oil market

• Market Commentary,
• Crude

21 May 2024

North Sea weakens further, arbs East opening further, but poor demand prevails

• Market Commentary,
• Crude

13 May 2024

Arbs East verging on open; but anaemic demand still weighing on crude for now

• Market Commentary,
• Crude

7 May 2024

Flat price tumble sees North Sea-East arbs beginning to open, WTI beginning to lose competitiveness abroad

• Market Commentary,
• Crude

29 April 2024

TI/Brent still primed to narrow; European crude demand yet to fire higher

• Market Commentary,
• Crude

22 April 2024

WTI strengthens position as marginal sweet barrel to Asia

• Market Commentary,
• Crude

15 April 2024

Window for North Sea bearishness is closing, while heavy crude pool rallies further

• Market Commentary,
• Crude

8 April 2024

Medium-sour vs light-sweet divergence to continue, for now