February 07, 2023 13:10 GMT
Crude Eases Back From Earlier Supply Driven Gains
Crude is drifting off from earlier highs after Iraq aims to resume pumping oil through Turkey this afternoon following safety checks according to SOMO.
- Supply issues in Turkey and Norway had supported the rally in Brent crude earlier today.
- Crude time spreads are also easing back in line with the move in the front month futures.
- Brent APR 23 up 1% at 81.84$/bbl
- WTI MAR 23 up 1.4% at 75.12$/bbl
- WTI-Brent up 0.13$/bbl at -6.39$/bbl
- Brent APR 23-MAY 23 unchanged at 0.28$/bbl
- Brent JUN 23-DEC 23 up 0.1$/bbl at 2.42$/bbl
- Brent DEC 23-DEC 24 up 0.15$/bbl at 4.03$/bbl