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Battle Between Economic Concerns and Supply Disruption

OIL

Crude prices creeping higher as Libya and Ecuador crude supply disruptions take over from economic concerns.

  • Brent spreads are hovering near previous close levels with the front Aug22 futures contract due to expire on Thursday. The prompt spreads are still near the highest since mid to late March.
  • Concerns for the US economy continue to weight on the WTI-Brent spread which reached a fresh low for the month at -6.07$/bbl earlier today.
  • Brent AUG 22 up 1.3% at 116.55$/bbl
  • WTI AUG 22 up 1.1% at 110.73$/bbl
  • Gasoil JUL 22 down -4.4% at 1207$/mt
  • WTI-Brent down -0.22$/bbl at -5.78$/bbl
  • Brent AUG 22-SEP 22 down -0.08$/bbl at 4.03$/bbl
  • Brent DEC 22-DEC 23 down -0.2$/bbl at 12.06$/bbl
Energy BulletsCommodities
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