World of Oil Derivatives

Greg Newman

The only oil swaps market specific podcast is back. Join Onyx Capital Group CEO, Greg Newman, and a plethora of industry guests as they dig down each week into the issues that affect the market. Are you paying attention?

  • 1 hour 5 minutes
    Do You Have the Trader Mindset? | Industry & Leadership: Jordan Alexander Oldershaw

    In this episode of Industry & Leadership, we dive deep into trading careers, trader recruitment, commodities trading jobs, trading talent, and what firms look for when hiring traders, featuring recruiter Jordan Alexander Oldershaw.

    Jordan breaks down how top trading firms assess candidates, the traits that define successful traders, and why so many applicants fail to make it past the first stage. He explains the real skills, behaviours, and mindset that matter inside fast-paced trading environments, and why technical brilliance is rarely enough on its own.

    The conversation explores how firms identify high-potential traders, the psychology behind hiring decisions, the difference between good and exceptional candidates, and how culture, curiosity, and adaptability play a far bigger role than most people realise.

    Jordan also shares insights on the evolution of trading careers, why the industry is becoming increasingly competitive, and what aspiring traders can realistically do to stand out. Whether you’re trying to break into commodities trading or looking to level up in the industry, this episode gives rare insider clarity on how trading desks truly think.

    📲 Follow us:
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    4 December 2025, 5:00 pm
  • 35 minutes 55 seconds
    The Non-Compete Case Everyone's Talking About: Dare vs Onyx | Industry & Leadership: Adam Solomon KC

    In this episode of Industry & Leadership, Onyx's CEO Greg Newman sits down with barrister Adam Solomon KC to unpack one of the most closely watched employment-law disputes in the commodities trading world.

    The discussion centres on a highly unusual non-compete case involving illness during a year-long notice period, alleged competitive activity, and the complex interaction between medical evidence, confidential information, and restrictive covenants.

    Adam explains why this case stood out: the courts were asked to decide whether a company could enforce 12 months of notice plus 12 months of non-compete, effectively keeping an employee out of the market for two years. The episode explores how judges approach questions of illness, memory-based knowledge, confidentiality, and the credibility of competing narratives.

    Greg and Adam also examine the broader dynamics behind employer-versus-employer disputes, the strategic behaviour of legal teams, and the often-misunderstood role of conduct, regulatory issues, and aggressively obtained evidence in determining outcomes.

    ⏱️ Chapters
    00:00 – Introduction & Case Background
    01:27 – Illness, Notice Periods & Covenant Enforcement
    02:20 – Why This Dispute Was Unusual
    03:22 – What the Case Was Really About: Business vs Business
    05:55 – Confidential Information, Memory & Non-Competes
    07:45 – Judicial Reasoning & Technical Evidence
    10:12 – Regulatory Concerns, Exchanges & Brokers
    12:05 – Contrasting Outcomes: Why One Employee Won & One Lost
    13:48 – Employer Conduct, Ethics & Evidence Gathering
    20:55 – Strategy, Law Firm Tactics & Litigation Dynamics
    27:00 – Broader Implications for Non-Competes & the Market
    32:05 – Costs, Damages & What Would Have Happened on Appeal
    35:06 – Final Thoughts & Closing Remarks

    📲 Follow us:
    Linktree: https://linktr.ee/flux_energy
    YouTube: https://www.youtube.com/@UCmyBe-R7Do6ZGWLyaStSosg 
    LinkedIn: https://www.linkedin.com/company/fluxinstitute
    X (Twitter): https://x.com/FluxEnergyNews
    Instagram: https://www.instagram.com/flux_energy_markets

    4 December 2025, 11:00 am
  • 23 minutes 14 seconds
    Flux News Budget Breakdown | Tax Rises, Market Reactions & Global Fallout

    In this special edition of Flux News, Lisa Aziz leads thirty packed minutes of analysis, reaction and market insight following the Chancellor’s long-awaited UK Budget announcement.

    With major tax changes on income, pensions, savings, property and electric vehicles — plus a controversial bundle of pre-budget leaks — the statement has already stirred political confrontation and market volatility. We hear from the Chancellor, Opposition response, and experts across the world to understand what the budget really delivers.

    Economist Vicky Price unpacks the hidden tax rises, frozen allowances, rising business costs and the challenges ahead for UK growth. Our global team of trading specialists — including James Brodie, Jorge Montepeque, Martha Dowding, and Manny Newman — assess how the budget lands across London, Dubai, Singapore and the wider global markets.

    From Gilt yields and currency moves to Asian investor sentiment and the future of UK oil and gas infrastructure, this episode delivers a comprehensive, global view of a budget announced late, leaked early and debated fiercely.

    A must-watch for anyone navigating markets, policy, or the UK’s economic future.

    26 November 2025, 7:00 pm
  • 35 minutes 48 seconds
    Oil at $30? Peace Talks, Hydrogen Hype & the UK’s Nuclear Shake-Up | The UK Energy Show

    A potential Ukraine-Russia peace deal sends shockwaves through global oil markets - could crude really crash toward $30 a barrel? Greg Newman, CEO of Onyx Capital Group and Julian Keites from Flux Markets join Martin Stanford to unpack the unprecedented volatility, from floating barrels to a possible whiplash in consumer fuel prices.

    The panel dives into France’s surprise discovery of naturally occurring “white hydrogen,” debating whether it’s the real breakthrough the energy transition has been waiting for - or just another over-hyped curiosity. Plus, we break down the UK’s new nuclear reform report, the hidden signals in the Chancellor’s budget, the latest twists in gas and petrol prices across Britain, and whether COP30 delivered action or just more diplomatic hot air.

    Fast-moving, data-driven, and unfiltered: this week’s UK Energy Show delivers the essential insights behind every headline shaping the global energy story.

    #EnergyNews #OilMarkets #GasPrices #CrudeOil #EnergyTrading #Commodities #EnergyMarkets #GlobalEnergy #OilAndGas #EnergyTransition #UkraineRussia #Geopolitics #PeaceDeal #MarketVolatility #MacroNews #GlobalMarkets #USPolitics #Sanctions

    26 November 2025, 3:00 pm
  • 28 minutes 39 seconds
    Meltdown! Markets Rattle as Crypto Crashes, AI Stocks Slammed | Macro Mondays

    In this week’s Macro Mondays, Lisa Aziz joins James Brodie and James Todd to break down the key macro trends driving global markets. With US labour data showing early signs of strain, unemployment rising, and consumer confidence sinking to its lowest levels since 2022, recession risk is moving sharply higher.

    AI-linked equities face renewed volatility as NVIDIA’s blockbuster earnings failed to lift markets, triggering a multi-asset liquidation event. UK data softens further ahead of a critical budget, while currency markets rotate back into dollar strength. Commodities remain mixed—gold clings to key support, copper holds firm, uranium unwinds, and Brent struggles as geopolitical risks collide with weakening macro signals.

    Key highlights include:
    ✅ US unemployment ticks higher; weekly jobless claims exceed expectations
    ✅ Michigan consumer confidence falls to the second-weakest level since 1990
    ✅ Inflation re-accelerates to 3% YoY, complicating the Fed’s December meeting
    ✅ UK retail sales disappoint; PMIs weaken; budget deficit widens
    ✅ Pound breaks key support as UK sentiment deteriorates
    ✅ NVIDIA beats expectations but triggers heavy tech liquidation
    ✅ SPX, AI stocks & leveraged tech positions unwind sharply
    ✅ Oracle CDS jumps as markets question AI-linked debt loads
    ✅ Gold holds support; copper resilient despite broader volatility
    ✅ Uranium sells off as power-demand assumptions face scrutiny
    ✅ Bitcoin drops 24% in November — worst month since June 2022
    ✅ Markets price a 77% chance of a Fed cut on December 10

    📊 Key data releases this week:
    📅 Monday – German IFO
    📅 Tuesday – US PPI, Retail Sales, ADP Employment
    📅 Wednesday – UK Budget, US Jobless Claims, PCE Inflation, New Home Sales, Australian CPI
    📅 Thursday – US Thanksgiving (Markets Closed)
    📅 Friday – Japan CPI, Employment & Retail Sales

    ⏱️ Chapters
    00:00 – Introduction and Overview
    01:31 – US Data: Jobs, Inflation & Consumer Confidence
    05:41 – UK Retail Sales, PMIs & Budget Risks
    09:25 – Equities & AI Volatility (NVIDIA, S&P 500)
    10:41 – USD Strength & FX Market Breakdown
    11:50 – AI Debt, Oracle CDS & Fund Manager Positioning
    16:03 – Private Equity, SPX Divergence & Market Fragility
    16:36 – Fed Cut Odds & US Rates Outlook
    17:34 – Dollar Index, Yen & Global FX
    18:30 – Gold, Uranium & Copper - Commodities
    21:30 – Brent, Power Demand & Geopolitics
    23:48 – Crypto Crash: Bitcoin Down 24%
    25:44 – Global Central Bank Rate-Cut Outlook
    26:30 – This Week’s Data & Events
    27:10 – Training Courses & How to Learn With Us

    📖 Learn directly from James Brodie at Flux Institute:
    https://fluxinstitute.flux.live/store

    📲 Follow us:
    Linktree: https://linktr.ee/flux_energy
    YouTube: https://www.youtube.com/@UCmyBe-R7Do6ZGWLyaStSosg 
    LinkedIn: https://www.linkedin.com/company/fluxinstitute
    X (Twitter): https://x.com/FluxEnergyNews
    Instagram: https://www.instagram.com/flux_energy_markets

    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.

    24 November 2025, 5:00 pm
  • 34 minutes 11 seconds
    Is the UK Ready for the New Energy Era? | UK Energy Show

    In this week’s edition of The UK Energy Show, we bring you a fast-moving, insight-packed look at the biggest developments shaping Britain’s energy landscape. From the high-stakes negotiations at COP30 to the latest shocks in global oil markets, our panel breaks down what truly matters for UK consumers, businesses, and policymakers.

    We examine the emerging and fragile consensus on a global roadmap to phase out fossil fuels, with analysis of the political tensions, financial hurdles, and real-world affordability challenges that could make or break any agreement. With Ukrainian strikes pushing Moscow’s refineries offline and new US sanctions about to hit, we look at why Russian oil prices are falling even as UK diesel prices surge - and what drivers can expect at the pump in the coming weeks.

    There’s big news for Wales too: the government has confirmed plans for the UK’s first small modular nuclear reactors, prompting a lively debate on whether SMRs are the future of clean, reliable baseload power or an expensive gamble.

    Plus, we dive into what’s trending on social media - from Exxon’s closures and potential acquisitions to the perennial question of China’s emissions, and we preview the rumours swirling around the upcoming UK Budget, including fuel duty, VAT changes, and the future of EV road charging.

    Hosted by Martin Stanford and joined by Greg Newman, Group CEO of Onyx Capital Group, and Julian Keites of Flux Markets, offering clear explanations, sharp market insight, and candid views on where energy prices and policy are heading next.

    📲 Follow us:
    Linktree: https://linktr.ee/flux_energy
    YouTube: https://www.youtube.com/@UCmyBe-R7Do6ZGWLyaStSosg 
    LinkedIn: https://www.linkedin.com/company/fluxinstitute
    X (Twitter): https://x.com/FluxEnergyNews
    Instagram: https://www.instagram.com/flux_energy_markets

    #UKEnergy #EnergyCrisis #EnergyMarkets #OilMarkets #GasPrices #DieselPrices #NuclearEnergy #SMR #COP30 #ClimatePolicy #Commodities

    19 November 2025, 4:00 pm
  • 20 minutes 49 seconds
    Trading Corner | Crude Chaos & Winter Signals

    In this week’s episode of Trading Corner, the team breaks down one of the most dramatic weeks the physical crude market has seen in years. We explore the sharp sell-off in Dated Brent, the mechanics behind a major trade-house’s aggressive positioning, and how just a handful of unplaced cargoes triggered a cascade through differentials and spreads.

    From the collapse in WTI and Forties diffs, to the sudden rebound driven by refiners emerging from maintenance, we map out how liquidity, sanctions headlines, and curve imbalances set the stage for extreme volatility. On the product side, we look at the sharp correction in margins, jittery gasoline demand, and why gasoil remains the key complex to watch heading into winter.

    With colder weather approaching, shifting refinery capacity, and persistent supply-demand uncertainty, the hosts outline their positioning views—from long TI/Brent boxes to back-end margin plays—and explain what they expect heading into December and beyond.

    #OilMarkets #CrudeTrading #DatedBrent #EnergyMarkets #CommodityTrading #OilPriceAction #RefiningMargins #BrentSpreads #WTI #GasOil #EnergyTrading #MarketVolatility #OilSanctions #PhysicalCrude #ProductMarkets #WinterDemand #TradingCorner #MacroEnergy #OilAnalytics #CommodityInsights

    17 November 2025, 5:00 pm
  • 25 minutes 33 seconds
    US Recession Deepens, AI Stocks Tumble & China Slumps | Macro Mondays

    In this week’s Macro Mondays, Lisa Aziz joins James Brodie and James Todd to break down the key macro trends shaping global markets. With US data delayed after the government shutdown, early indicators point to rising recession risk, weaker labour markets, and falling consumer confidence.

    AI stocks face renewed volatility as major tech names correct sharply, while Japan’s yields surge and China continues to slow. Commodities stay mixed—gold and copper hold firm, oil trades in a tight range, and Bitcoin slips into a bear trend as whale selling accelerates.

    Key highlights include:
    ✅ 88% of Americans now living in states in recession
    ✅ US foreclosures up 20%; subprime auto delinquencies worst in 30 years
    ✅ China industrial production & investment disappoint
    ✅ UK unemployment rises to 5%; growth slips to 0.1%
    ✅ AI stocks unwind: Oracle –36%, Tesla –15%, CoreWeave –37%
    ✅ Japanese bond yields break to multi-decade highs
    ✅ Dollar-yen breaks out on fears of Japanese credit risk
    ✅ Precious metals spike but broad commodity supercycle unlikely
    ✅ Copper & uranium driven by AI-linked power demand
    ✅ Bitcoin enters bear market; volatility accelerates
    ✅ Central banks: Fed cut odds fall below 50% due to missing data

    📊 Key data releases this week:
    📅 Tuesday – ADP Employment (US)
    📅 Wednesday – NVIDIA Earnings, FOMC Minutes, UK & Eurozone Inflation
    📅 Thursday – September Jobs Report (US), Philly Fed, Japan Inflation
    📅 Friday – UK Retail Sales, Global Flash PMIs, UMich Confidence

    ⏱️ Chapters
    00:00 – Introduction
    00:42 – Market Headlines & Macro Overview
    01:55 – US Data Delay, Jobs & Recession Signals
    04:28 – Chinese Data Disappoints Again
    05:15 – UK Data: Unemployment & Growth
    06:33 – Equity Moves & AI Stock Volatility
    10:04 – Currencies & Bond Market Outlook
    14:03 – Commodities Surge
    20:44 – OIS Pricing For The Next 12 Months
    21:38 – Crypto Market Overview
    23:00 – Key Data Releases & Closing Summary

    📖 Learn directly from James Brodie at Flux Institute:
    https://fluxinstitute.flux.live/store

    📲 Follow us:
    Linktree: https://linktr.ee/flux_energy
    YouTube: https://www.youtube.com/@UCmyBe-R7Do6ZGWLyaStSosg 
    LinkedIn: https://www.linkedin.com/company/fluxinstitute
    X (Twitter): https://x.com/FluxEnergyNews
    Instagram: https://www.instagram.com/flux_energy_markets

    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.

    17 November 2025, 4:00 pm
  • 39 minutes 21 seconds
    Trump’s $2,000 Stimulus Shock, AI Stocks Crack & Gold Explodes Higher | Macro Mondays

    In this week’s Macro Mondays, James Brodie is joined by James Todd and Will Cunliffe, as they dive into the latest macro shifts shaking global markets.

    Trump’s proposed $2,000 “tariff dividend” has injected fresh volatility, lifting gold and equities while raising major concerns around inflation, fiscal credibility, and the Federal Reserve’s next move.

    At the same time, US layoffs are accelerating, consumer sentiment has plunged to its second-lowest reading ever, and job openings have collapsed - signalling clear labour-market softness. AI stocks remain under pressure as Michael Burry places heavy short positions, triggering sharp corrections across NVIDIA, Palantir, Meta and other Magnificent 7 names.

    Meanwhile, structural imbalances deepen across global markets. AI data centres are driving unprecedented electricity demand, commercial real estate delinquencies are spiking, and US yields fluctuate as traders weigh recession risks versus stimulus-driven inflation. Bitcoin hovers around the critical $100k level as whale liquidation continues and its long-standing correlation with the NASDAQ breaks down.

    Key highlights include:
    ✅ Trump’s $2,000 “tariff dividend” sparks inflation fears
    ✅ US layoffs spike; consumer confidence hits second-lowest on record
    ✅ AI stocks sell off sharply as hedge funds rebuild shorts
    ✅ NASDAQ volatility rises; rotation out of crowded tech trades
    ✅ AI data centres drive record power demand and grid strain
    ✅ Commercial real estate delinquencies hit all-time highs
    ✅ Brent crude drifts lower; refinery outages and sanctions support products
    ✅ Bitcoin tests key support at $100,000 amid whale selling
    ✅ Bond markets remain directionless as traders await Fed clarity

    📊 Key data releases this week:
    📅 Tuesday – UK Retail Sales, UK Employment Data, German ZEW
    📅 Wednesday – German Inflation, OPEC Monthly Report
    📅 Thursday – UK GDP, UK Industrial Production, Australian Employment
    📅 Friday – French Inflation, US PPI

    🕒 This episode was recorded on Monday, the 10th of November, 2025 at 12:30 PM BST.

    📖Learn directly from James Brodie at Flux Institute: https://fluxinstitute.flux.live/store

    🔔 Subscribe & turn on notifications
    Stay updated with weekly macro insights & deep-dive market analysis.

    📲 Follow us:
    Linktree: https://linktr.ee/flux_energy
    YouTube: https://www.youtube.com/@UCmyBe-R7Do6ZGWLyaStSosg 
    LinkedIn: https://www.linkedin.com/company/fluxinstitute
    X (Twitter): https://x.com/FluxEnergyNews
    Instagram: https://www.instagram.com/onyxcgroup

    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.

    10 November 2025, 4:00 pm
  • 41 minutes 56 seconds
    Flux Book Club | Colin Bryce: The Rivers of Money

    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, to the Platts–ICE symbiosis and today’s entrenched market infrastructure, Bryce traces how innovation happens, and why it’s harder now. He argues trading has evolved from a solo craft to a team sport, and warns that “speed” adds little social value, and makes the case for client-centric liquidity and real-world relationships in an age obsessed with algorithms. Greg and Colin also look east—China, India, Dubai—and ask whether the next reinvention will come from new centres of gravity or from rebuilding community in the West.

    Guest: Colin Bryce
    Book: The Rivers of Money: Social and Economic History of Modern Oil Trading

    7 November 2025, 8:00 am
  • 47 minutes
    Trump's Trade Deal, Fed Cut & AI Bubble Grows | Macro Mondays

    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, they dive into gold’s $4,000 floor, the S&P’s shaky rally, and what traders should watch as recession risks resurface.

     

    Key highlights include:

    ✅ US-China agree on new trade deal

    ✅ Trump to attack Venezuela?

    ✅ Fed to restart QE while US debt rises at record pace

    ✅ Euro Area struggles 

    ✅ S&P trends higher thanks to AI, but elsewhere stocks struggle

     

    📊 Key data releases this week:

    📅 Monday - US, EA, UK, India and Canada Manufacturing PMI

    📅 Tuesday –  Japan Manufacturing PMI, France Budget Balance

    📅 Wednesday – US, EA, UK and Canada Services PMI, France Industrial Production

    📅 Thursday –  BoE Rate Decision, EA retail sales, Japan and India Services PMI, EA Construction PMI

    📅 Friday –   China, Germany and France Trade data, US Michigan data, Japan household spending PMI

     

    🕒 This episode was recorded on Monday, the 3rd of November, 2025 at 12:30PM BST.

     

    🔔 Subscribe & turn on notifications so you don’t miss out on key market insights!

     

    Follow us: https://linktr.ee/onyxcapitalgroup

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    X: https://x.com/FluxEnergyNews

    Instagram: https://www.instagram.com/onyxcgroup/


    3 November 2025, 2:00 pm
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