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Brent Extends Gains After Druzbha Suspension

OIL

Front month Brent now about 2$/bbl higher in reaction to the news of the suspension of the southern Druzbha pipline. The move in WTI has been slightly more muted resulting in a widening of the WTI-Brent spread. Time spreads have hardly reacted and are trading just over previous close levels.

  • Brent OCT 22 up 1.3% at 97.92$/bbl
  • WTI SEP 22 up 1.2% at 91.81$/bbl
  • Gasoil AUG 22 up 4.1% at 993$/mt
  • WTI-Brent down -0.23$/bbl at -6.9$/bbl
  • Brent OCT 22-NOV 22 up 0.08$/bbl at 1.61$/bbl
  • Brent DEC 22-DEC 23 up 0.25$/bbl at 7.68$/bbl
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Front month Brent now about 2$/bbl higher in reaction to the news of the suspension of the southern Druzbha pipline. The move in WTI has been slightly more muted resulting in a widening of the WTI-Brent spread. Time spreads have hardly reacted and are trading just over previous close levels.

  • Brent OCT 22 up 1.3% at 97.92$/bbl
  • WTI SEP 22 up 1.2% at 91.81$/bbl
  • Gasoil AUG 22 up 4.1% at 993$/mt
  • WTI-Brent down -0.23$/bbl at -6.9$/bbl
  • Brent OCT 22-NOV 22 up 0.08$/bbl at 1.61$/bbl
  • Brent DEC 22-DEC 23 up 0.25$/bbl at 7.68$/bbl