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Crude Edges Up From Lows Ahead of EIA US Stocks Data

OIL

Crude edges back up after trading down to a low of 74.29$/bbl as front month trades down through technical supports levels to the lowest since December 2021.

  • The financial market concerns and stronger US dollar have driven crude lower ahead of the release of the EIA inventory data at 10:30 ET (14:30GMT). Expectation is for the data to show a build in crude inventories but a draw in oil products with a small recovery higher in refinery utilisation according to Bloomberg survey.
    • Brent MAY 23 down -3.4% at 74.82$/bbl
    • WTI APR 23 down -3.6% at 68.78$/bbl
    • WTI-Brent down -0.03$/bbl at -5.89$/bbl
    • WTI APR 23-MAY 23 up 0.02$/bbl at -0.14$/bbl
    • WTI JUN 23-DEC 23 down -0.35$/bbl at 1.22$/bbl
    • WTI DEC 23-DEC 24 down -0.69$/bbl at 2.42$/bbl
Energy BulletsCommodities
Energy BulletsCommodities

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