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Crude Extends Gains on China Demand Optimism

OIL

Crude futures and spreads extend gains with levels testing the top of today’s range.

  • Next technical resistance for the front month contracts are at the 20 day EMA of 82.51$/bbl for Brent and 77.07$/bbl for WTI.
    • Brent FEB 23 up 1.5% at 80.25$/bbl
    • WTI JAN 23 up 1.7% at 75.56$/bbl
    • WTI-Brent up 0.1$/bbl at -4.48$/bbl
    • Brent FEB 23-MAR 23 up 0.11$/bbl at -0.34$/bbl
    • Brent JUN 23-DEC 23 up 0.2$/bbl at 2.06$/bbl
    • Brent DEC 23-DEC 24 up 0.1$/bbl at 3.38$/bbl

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