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Crude and Longer Dated Time Spreads Edge Higher

OIL

Crude ticking higher as the dollar dips ahead of the US CPI data later.

  • The longer dated Dec22-Dec23 spread continues to strengthen with support from the risks to supplies later this year. The prompt spread is holding steady near to levels seen since late last week.
    • Brent NOV 22 up 0.9% at 94.85$/bbl
    • WTI OCT 22 up 1% at 88.64$/bbl
    • WTI-Brent down -0.03$/bbl at -6.59$/bbl
    • Brent NOV 22-DEC 22 up 0.06$/bbl at 1.13$/bbl
    • Brent DEC 22-DEC 23 up 0.67$/bbl at 9.93$/bbl
    • WTI OCT 22-NOV 22 up 0.02$/bbl at 0.39$/bbl
    • WTI DEC 22-DEC 23 up 0.69$/bbl at 8.57$/bbl

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