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Crude Curve Stable as Front Month Moves Lower

OIL

Crude curve backwardation is holding steady as flat price futures edge lower before the release of the updated EIA inventory data later today.

  • Crude has lost small earlier gains and now trading back negative on the day.
    • Brent NOV 22 down -0.4% at 92.77$/bbl
    • WTI OCT 22 down -0.5% at 86.9$/bbl
    • WTI-Brent down -0.02$/bbl at -6.33$/bbl
    • Brent NOV 22-DEC 22 down -0.02$/bbl at 0.93$/bbl
    • Brent DEC 22-DEC 23 down -0.02$/bbl at 9.07$/bbl
    • WTI OCT 22-NOV 22 up 0.04$/bbl at 0.46$/bbl
    • WTI DEC 22-DEC 23 down -0.03$/bbl at 7.71$/bbl

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