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Brent Spreads Ease after OPEC Rally

BRENT CURVE

Brent and spreads fade after OPEC rally yesterday afternoon.

  • Time spreads have ease back off highs seen earlier in the week. Longer dated spreads remain strong with the delayed EU ban on Russian oil to take effect at the end of the year and with potential higher Chinese demand as they recover from the covid outbreak.
  • Brent AUG 22 down -0.7% at 116.8$/bbl
  • Brent AUG 22-SEP 22 down -0.06$/bbl at 2.52$/bbl
  • Brent SEP 22-OCT 22 down -0.02$/bbl at 2.46$/bbl
  • Brent DEC 22-DEC 23 down -0.06$/bbl at 15.03$/bbl

Source: Bloomberg

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