We saw extremely rangebound prices in crude this week, with the September Brent futures contract hovering between $84/bbl and $85/bbl.

The team discuss the nature of the oil market, what's going on with Dated Brent, volatility, US jet fuel demand, and the upcoming US election debate. Not to mention, Jorge "The Regulator" weighs in on the current state of benchmarks and conspiracy theories.

Refinery margins have been relatively rangebound, although a weakened crude flat price supported margins this past week. In contrast to previous weeks' performances, the distillates market was lacklustre. Meanwhile, gasoline saw better support on stronger demand indicators. Although refinery margins were not the driver for the recent strength in Dated Brent, this may have spurred some refiners who were originally waiting for lower prices to now make last-minute cargo purchases.

We discuss these trade ideas in detail in our weekly Onyx Alpha report. For further information on where you can access this report, kindly contact our sales team: sales@onyxcapitaladvisory.com

You can find Onyx's benchmark publication, "The Officials," here: https://www.onyxhub.co/

If you would like to connect with any of our hosts on LinkedIn, please click on the hyperlinks below:
Greg Newman: https://www.linkedin.com/in/oilderivatives/
Jorge Montepeque: https://www.linkedin.com/in/jorge-montepeque-38410bb6/
Martha Dowding: https://www.linkedin.com/in/martha-dowding-ab84801a6/\
Vincent Wu:  https://www.linkedin.com/in/vincent-wu-099816125/

Onyx Hub: https://www.onyxhub.co/ 
OnyxHub is the leading portal for commodity market news with a focus on the oil complex. Discover our charts, forecasts, analysis and more.

Chapters for this episode are:
0:00 Welcome
1:07 Brent Futures 
2:19 Brent, fundamentals, and benchmarks 
15:06 Refinery margins
19:15 "Googling oil:" world oil news 
22:42 Trade idea of the week 
24:41 Poll results and outro