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Crude Extends Decline on Economic and China Demand Uncertainty


Crude extends the decline on global demand growth concerns with next technical support for Brent at 88.67$/bbl and WTI at 81.3$/bbl.

  • Prompt Brent time spreads are holding ground but the longer dated Dec22-Dec23 spread is following the move.
    • Brent DEC 22 down -2.2% at 91.41$/bbl
    • WTI DEC 22 down -2.6% at 82.83$/bbl
    • Gasoil NOV 22 up 1.5% at 1066.75$/mt
    • WTI-Brent down -0.2$/bbl at -8.58$/bbl
    • Brent DEC 22-JAN 23 up 0.06$/bbl at 2.22$/bbl
    • Brent JAN 23-FEB 23 down -0.01$/bbl at 1.88$/bbl
    • Brent DEC 22-DEC 23 down -0.42$/bbl at 12.37$/bbl

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