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Brent steady with no clear news from EU

OIL

Brent hovering near 120$/bbl and WTI near 116$/bbl as the EU Summit takes place with sanctions against Russia a key topic. A deal is not looking imminent, but EU hopes remain for an agreement in the coming days.

  • With the US holiday today, trading volume is very light and prices are remaining steady without any headline news to change the sentiment.
  • Brent JUL 22 up 0.6% at 120.09$/bbl
  • WTI JUL 22 up 0.7% at 115.9$/bbl
  • Gasoil JUN 22 up 1% at 1180.25$/mt
  • WTI-Brent up 0.07$/bbl at -4.16$/bbl
  • Most time spreads continue to slowly tick higher although Brent Jul22 contract expiry tomorrow is causing intraday volatility in the front Brent spread.
  • Brent JUL 22-AUG 22 down -0.31$/bbl at 3.56$/bbl
  • Brent DEC 22-DEC 23 up 0.38$/bbl at 14.58$/bbl
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