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Crude Bounces Positive in Volatile Trading

OIL

Crude rebounds positive on the day erasing earlier losses. Markets remain volatile with uncertainty of both demand and supply.

  • Concern for a global slowdown and weak Chinese oil demand this year adds to downside pressures while potential missing Russian barrels adds upside risks.
  • Despite the flat price moves the times spreads have remained steady on the day.
    • Brent DEC 22 up 0.2% at 93.65$/bbl
    • WTI DEC 22 up 0.1% at 85.13$/bbl
    • Gasoil NOV 22 up 3.7% at 1089.75$/mt
    • WTI-Brent down -0.15$/bbl at -8.53$/bbl
    • Brent DEC 22-JAN 23 down -0.08$/bbl at 2.08$/bbl
    • Brent JAN 23-FEB 23 down -0.02$/bbl at 1.87$/bbl
    • Brent DEC 22-DEC 23 down -0.03$/bbl at 12.76$/bbl
Energy BulletsCommodities
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