© 1982-2022 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
BELGIUM AUCTION RESULTS

ORI facility

STIR FUTURES

Range Bound Ahead of Payrolls

UK T-BILL AUCTION RESULTS

1/3/6-month UKTBs

GBP

Unwinds early gains

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Topics

Crude Curve Steeper as Outright Regains Ground

OIL
BulletEnergy BulletsCommodities

Prompt spreads drive steeper crude backwardation as crude regains some losses.

  • The front time spreads in both Brent and WTI continue to push higher with Brent up to 3.81$/bbl and the highest since May when the spread reached 4.07$/bbl.
  • The concerns over longer term demand growth however are weighing on the Dec-Dec spread which has reversed earlier gains and now trading lower on the day.
  • The Brent front month contract has recovered lost ground from the last couple of days and is back up towards 113$/bbl.
  • WTI-Brent has also turned and now trading up on the day.
  • Brent AUG 22 up 2.6% at 112.92$/bbl
  • WTI AUG 22 up 3.1% at 107.5$/bbl
  • WTI-Brent up 0.31$/bbl at -5.41$/bbl
  • Brent AUG 22-SEP 22 up 0.22$/bbl at 3.81$/bbl
  • Brent DEC 22-DEC 23 down -0.23$/bbl at 11.63$/bbl
132 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Prompt spreads drive steeper crude backwardation as crude regains some losses.

  • The front time spreads in both Brent and WTI continue to push higher with Brent up to 3.81$/bbl and the highest since May when the spread reached 4.07$/bbl.
  • The concerns over longer term demand growth however are weighing on the Dec-Dec spread which has reversed earlier gains and now trading lower on the day.
  • The Brent front month contract has recovered lost ground from the last couple of days and is back up towards 113$/bbl.
  • WTI-Brent has also turned and now trading up on the day.
  • Brent AUG 22 up 2.6% at 112.92$/bbl
  • WTI AUG 22 up 3.1% at 107.5$/bbl
  • WTI-Brent up 0.31$/bbl at -5.41$/bbl
  • Brent AUG 22-SEP 22 up 0.22$/bbl at 3.81$/bbl
  • Brent DEC 22-DEC 23 down -0.23$/bbl at 11.63$/bbl