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Brent Edging Lower; Morgan Stanley Cut Q4 Forecast to 95$/bbl


Crude continues to ease back driven by economic slowdown concerns with the time spreads following. The prompt Brent spread is falling back towards the lows seen early last week at 0.25$/bbl.

  • Longer dated spreads are also softer but holding just above the lows from the start of February.
  • Morgan Stanley have cut their Q4 2023 Brent oil forecast by 15$/bbl to 95$/bbl.
    • Brent APR 23 down -0.7% at 82.45$/bbl
    • WTI APR 23 down -0.9% at 75.69$/bbl
    • WTI-Brent down -0.09$/bbl at -6.76$/bbl
    • Brent APR 23-MAY 23 down -0.03$/bbl at 0.25$/bbl
    • Brent JUN 23-DEC 23 down -0.13$/bbl at 2.29$/bbl
    • Brent DEC 23-DEC 24 down -0.12$/bbl at 3.87$/bbl

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