August 15, 2022 10:29 GMT
Brent extends losses after weak Chinese data and hope for an Iran nuclear deal
- Iran said that the basis exists for a nuclear deal “in the very near future” if Iran gets guarantees and they will inform EU of its response to the text tonight.
- Brent time spreads are following the flat price move lower with 1-2 the lowest since April and Dec-Dec the lowest since Feb.
- Next Brent technical support is at 92.78$/bbl and WTI supportat 87.01$/bbl
- Brent OCT 22 down -4.7% at 93.56$/bbl
- WTI SEP 22 down -4.6% at 87.84$/bbl
- WTI-Brent up 0.42$/bbl at -6.3$/bbl
- Brent OCT 22-NOV 22 down -0.27$/bbl at 0.98$/bbl
- Brent DEC 22-DEC 23 down -1.25$/bbl at 6.69$/bbl