What really built modern oil markets- genius traders, clever tech, or a tight-knit community willing to reinvent the rules? In this wide-ranging conversation, Colin Bryce, co-author of The Rivers of Money: Social and Economic History of Modern Oil Trading, pulls back the curtain on the people, places, and decisions that shaped Brent, birthed ICE, and turned a niche business into a global engine of liquidity. From Morgan Stanley’s early experiments and Enron Online’s single-dealer shock...

This week on Macro Mondays, the team breaks down a packed week in global markets - from Trump’s new trade deal with China and growing military tension in Venezuela, to the Fed’s pivot away from quantitative tightening amid record US debt. James Todd, Will Cunliffe,and Spyridon Kokas explore whether the AI boom led by OpenAI and NVIDIA is turning into a bubble, why Buffett’s $380B cash pile signals caution, and how Europe’s stagnation and rising oil volatility could shape markets ahead. Plus, ...

UK diesel prices just jumped after fresh US/UK sanctions targeting Russian oil producers — and the knock-on could be big. In this week’s UK Energy Show, we break down the two-tier oil market (sanctioned barrels stuck “on the water” vs freely traded supply), why diesel is the pressure point, and how Lukoil’s asset sale and Petrofac’s collapse play into UK energy, jobs, and prices. We also dig into North Sea politics (Rosebank & Jackdaw), the Tony Blair Institute’s call to slow the 2030 cle...

In this week’s Macro Mondays James Todd is joined by Ed Hayden-Briffett and Will Cunliffe to unpack another turbulent week across global markets. US equities hit fresh all-time highs as lower-than-expected CPI data fuels optimism - yet the rally is increasingly narrow, driven by speculative tech names with little to no earnings. Meanwhile, recession risks are flashing red, with UBS warning of a 93% probability and nearly a third of US states already contracting. In Asia, China’s...

In this special extended edition of the UK Energy Show , Greg Newman and Julian Keites break down Ed Miliband’s recent BBC interview and what it really means for household bills, grid investment, and the future of UK energy. From the rising non-commodity costs buried in your electricity bill to the hidden “tax” of net zero infrastructure, we unpack the mechanics behind energy pricing and how government policy is shaping what you pay. We also dive into the promises of 400,000 new green ...

In this week’s Macro Mondays, James Brodie is joined by James Todd and Spyridon Kokas as they dive into the most recent market shifts. US regional banks are under pressure, while the broader banking sector now holds over $395 billion in unrealised losses tied to bond and securities markdowns. At the same time, US equities are roaring into year-end, with record inflows into tech stocks and margin debt surging to the highest numbers on record. Meanwhile, China’s macro picture cont...

Welcome to the first episode of The UK Energy Show — your weekly deep dive into what’s really driving UK energy prices - and what you can do about it. This week: The aftermath of Storm Amy, and how wind and solar affect power pricesWhy the UK still pays more for electricity than other European countriesEnergy debates from UK politicians at the Energy UK conferenceHow Ukraine’s attacks on Russian refineries shake global oil markets Host Martin Stanford interviews energy experts Gr...

In this week’s Macro Mondays, Will Cunliffe is joined by Spyridon Kokas and Harinder Sandhu to break down a high-volatility week in global markets. Silver surged to historic levels, driven by mounting physical supply constraints and intensifying demand from ETF flows. Meanwhile, Donald Trump reignited the US-China trade war, threatening sweeping new tariffs on Chinese exports just as China unveiled a retaliatory shipping surcharge that escalates over the next three years. This discourse has r...

In this week’s Macro Mondays, James Brodie, James Todd, and Spyridon Kokas, break down a week of record highs and rising uncertainty. Japan’s new Prime Minister, Senae Takaichi, pledged sweeping stimulus, sending the Nikkei up nearly 5% and the Yen down 2%, as debt fears grew. In Europe, French Prime Minister Lecornu resigned after less than a month, driving Euro weakness and a sell-off in French bonds, now yielding above Italy’s. U.S. data remains scarce amid the government shutdown, with co...

In this week’s Macro Mondays, James Todd is joined by Spyridon Kokas and Mita Chaturvedi to dissect a turbulent week in markets. President Trump has unveiled plans for sweeping new tariffs, including a 100% tariff on pharmaceutical imports, just as Washington stares down another potential government shutdown at the October 1st deadline. The Dollar continues to weaken, with Treasury yields sliding as faith in U.S. data erodes and the Fed faces pressure to accelerate rate cuts. Gold and silver ...

This week on Macro Mondays, James Brodie, James Todd & Will Cunliffe breaks down the biggest macro market movers: US economy falters - July jobs report shows just 73k new jobs, the weakest hiring since COVID, plus a massive 259k downward revision. ISM manufacturing and services PMIs point to stagflation risks.Fed rate cut bets surge - Markets now price -58bp by year-end and -111bp over 12 months; JP Morgan expects three consecutive cuts.Trump escalates tariffs - New 15%...

In this episode of Flux Insights, Group Head of Research Harry Tchilinguirian, Quantitative Research Associate Harinder Sandhu, and Research Associate Mita Chaturvedi analyse the latest developments in crude oil and refined product markets - including a sharp drop in Brent prices, CTA positioning reversals, and fresh insights from Onyx's proprietary COT data. With technical pressure building across Brent and gasoil futures, the team highlights key support levels, bearish momentum signals, and...

IMPORTANT: remember, our content is moving away from YouTube and across to Flux.Live as of next week, so make sure to checkout our comprehensive news website for your daily energy news. In the final episode of the Flux News Show, before we move our shows across to Flux.live, Group CEO Greg Newman, Harry Campion-Evans from Onyx Markets and Geek in the Seat, Martha Dowding, dive deep into a cooling global oil market where volatility has dried up and traders are left waiting for a catalyst. Th...

In this episode of Macro Mondays, James Todd, Will Cunliffe, and Edward Hayden-Briffett unpack the week that was in global markets. Markets are reacting to sweeping new trade deals - notably a major US-EU agreement involving zero tariffs and massive energy investments - while weak US and Eurozone PMIs, consolidating precious metals, and rising Japanese yields signal caution. Meanwhile, investors are withdrawing from US Treasuries amid political uncertainty, China's economy is under pressure d...

In this week’s episode of the Flux News Show, Greg Newman, Harry Campion-Evans, and Mita Chaturvedi break down why middle distillates like diesel are defying the trend and driving oil markets. They dive deep into the distillates rally, unpacking how chronically low stocks, disjointed refining activity, and CTA-led momentum flipped what looked like a stop-out into a full-blown bull run. Meanwhile, soaring diesel-led margins and rare summer tightness in the physical market are reshaping t...

In this episode of Macro Mondays, James Todd & Edward Hayden-Briffett unpack a high-stakes week in global markets; where rising bond yields, China’s deepening economic slump, and Trump’s provocative economic rhetoric have stirred volatility across assets. As fears of stagflation hit the UK, and the tech rally pushes into bubble territory, markets are bracing for unpredictable shifts ahead. 👉 Contact us about learning & development: OnyxLND@OnyxCapitalGroup.com 👉 Daily updates o...

In this week’s episode of the Flux News Show, Harry Campion-Evans steps in for Group CEO Greg Newman and joins Harinder Sandhu and Vincent Wu to dissect the shifting tides in global oil markets. The team kicks off with a bullish shift in market fundamentals, driven by strong open interest in Brent options, rising refinery margins, and the impact of U.S. sanctions rhetoric. They then dig into the distillate rally, where July–August gas oil spreads hit their highest levels since the Russian inv...

In this episode of Macro Mondays, James Brodie, James Todd & Will Cunliffe unpack the latest macro crosscurrents dominating global markets—from record-breaking equity rallies to deepening economic strains in China and the U.S., and a major resurgence in precious metals and crypto. As global trade tensions escalate and monetary policy remains uncertain, markets are grappling with mixed signals and elevated volatility. 👉 Contact us about learning & development: OnyxLND@OnyxCapita...

In this of Trading Corner, hosts Manny and James dissect the extraordinary strength in the gasoil market and unravel the mechanics behind dislocations across the barrel. From front spreads hitting unprecedented highs to refinery margins soaring amid tight diesel supplies, Manny and James explore why the usual summer seasonality is failing to materialise. They examine the knock-on effects on crude, particularly the puzzling weakness in prompt physical markets despite bullish futures curves and...

In this episode of the Flux News podcast, Group CEO Greg Newman is back alongside Research Associate Martha Dowding and Research Analyst Will Cunliffe to break down the oil market’s summer reset following the “12-day war” shock. With volumes and conviction draining out of the system, the team explores whether the return to calm signals a true inflexion point - or just the eye of the storm. This week’s discussion dives into: • OPEC’s latest move: why a larger-than-expected paper unwind ...