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OIL
Crude time spreads fall while Gasoil spreads stay strong
- The Brent and WTI Dec22-Dec23 spreads have fallen to the lowest since 25th Feb before the Ukraine war with hopes of easing crude supply. Limited refining capacity and low stocks are however keeping the Gasoil spreads much stronger. The Gasoil Dec22-Dec23 spread has risen over the past week to 115$/mt (equivalent to 15.4$/bbl) compared to Brent at only 6.5$/bbl.
- Brent OCT 22 down -1.2% at 93.92$/bbl
- Gasoil SEP 22 up 0.2% at 1024$/mt
- Brent OCT 22-NOV 22 down -0.12$/bbl at 0.7$/bbl
- Brent DEC 22-DEC 23 down -0.47$/bbl at 6.53$/bbl
- Gasoil SEP 22-OCT 22 unchanged at 14.25$/mt
- Gasoil DEC 22-DEC 23 down -5.25$/mt at 114.75$/mt
Source: Bloomberg
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.
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