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.

They explore technical signals like Bollinger Band pinches, why Brent keeps hitting resistance at $70/bbl, and how options and volumes are painting a muted picture. Plus, a deep look at EU-US energy trade deals, refinery impacts from China to the North Sea, and the surprising fallout from a glut of high-sulphur fuel in Asia.

Whether you're tracking cracks, spreads, or the macro grind, this one’s for you.

Topics include:

Why volatility is collapsing across energy markets
Brent/Dubai spread moves and what they signal
US LNG expansion and EU energy security plays
The reshuffling of refinery flows and trade arbitrage
Total’s Q2 earnings slump and the underestimated power of trading desks
Why Japan’s power futures surge matters, and who’s cashing in

Please note, this episode was recorded at 9am BST on 29th July, 2025.

Chapters for this episode are:
0:28 Introduction
1:29 Temperature Gauge: Your Pulse on the Market
7:00 Herd Mentality: What’s Driving the Market?
15:11 The Officials - The Technical Breakdown
21:13 Macro Mayhem: Macro Market News
40:11 Crack Spread Chronicles: Refinery Margins
41:34 Gold Rush: Where Traders Struck Big!
43:54 Widow Maker: The Market’s Biggest Trading Losses
51:47 Crystal Ball: Trade Ideas & Forward-Looking Analysis

👉 The Officials report: https://www.flux.live/the-official-reports/

👉 Oil swaps dictionary: https://www.onyxmarkets.co.uk/oil-sw https://linktr.ee/onyxcapitalgroup

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CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs and spread bets. You should consider whether you understand how CFDs and spread bets work and whether you can afford to take the high risk of losing your money.

Oil Markets on Ice: Why Traders Are Bored and What Could Wake Them Up

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