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Crude and Margins Recover to Previous Close Levels

OIL

Crude is back up to near flat on the day after bouncing off a low of around 80.5$/bbl again today as the market assess weakness in oil demand against tighter supplies.

  • The Dec23-Dec24 time spreads and oil product cracks have followed the recovering to also trade back up towards the previous close levels.
    • Brent JUN 23 down -0.1% at 81.58$/bbl
    • WTI JUN 23 up 0% at 77.89$/bbl
    • Brent JUN 23-JUL 23 down -0.01$/bbl at 0.19$/bbl
    • Brent DEC 23-DEC 24 down -0.02$/bbl at 3.97$/bbl
    • US gasoline crack down -0.1$/bbl at 30.05$/bbl
    • US ULSD crack up 0.2$/bbl at 26.64$/bbl

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