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Free AccessBrent Spreads Fall on Easing Supply Fears
The Brent prompt spread has fallen to the lowest since mid Aug at 1.01$/bbl after supply risks ease and following the OPEC meeting yesterday.
- Various supply risks such as Iraq, Libya and uncertainty of OPEC had driven the spread out as much as 2.1$/bbl. Other supply issues such as CPC flows, Iran nuclear deal delays and more possible future Russian disruption are keeping the forward curve backwardated.
- Brent NOV 22 down -3.2% at 92.68$/bbl
- WTI OCT 22 down -0.4% at 86.53$/bbl
- WTI-Brent up 0.14$/bbl at -6.53$/bbl
- Brent NOV 22-DEC 22 down -0.3$/bbl at 1.04$/bbl
- Brent DEC 22-DEC 23 down -1.37$/bbl at 9.4$/bbl
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.