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Crude Edges Higher Ahead of JMMC Meeting

OIL

Crude is edging higher ahead of OPEC’s JMMC meeting today which is due to start shortly at 14:00CET.

  • The JMMC committee will review the current market and are expected to recommend no change to the OPEC production targets.
  • The shape of the forward curve is largely unchanged today as the market weighs up economic driven demand concerns, ahead of the US Fed decision late today, against China optimism and possible Russia supply disruption.
  • Brent APR 23 up 0.4% at 85.82$/bbl
  • WTI MAR 23 up 0.7% at 79.41$/bbl
  • Brent APR 23-MAY 23 down -0.01$/bbl at 0.28$/bbl
  • Brent MAY 23-JUN 23 unchanged at 0.42$/bbl
  • Brent JUN 23-DEC 23 up 0.03$/bbl at 2.99$/bbl
  • Brent DEC 23-DEC 24 down -0.03$/bbl at 4.71$/bbl

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