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Crude Extends Loses on Economic Concerns


Crude extends loses as the wider energy complex falls.

  • Brent is falling below lows seen earlier this morning due to expectation of weaker demand over central bank tightening and the impact on oil consumption due to increasing Chinese lockdowns.
  • Technicals show Brent through the support at 90.95$/bbl with the key bear trigger at 89.06$/bbl
    • Brent NOV 22 down -3.3% at 89.79$/bbl
    • WTI OCT 22 down -3.6% at 83.79$/bbl
    • Gasoil SEP 22 down -1.6% at 1061.75$/mt
    • WTI-Brent down -0.01$/bbl at -6.36$/bbl
    • Brent NOV 22-DEC 22 down -0.09$/bbl at 0.77$/bbl
    • Brent DEC 22-DEC 23 down -0.82$/bbl at 8.27$/bbl

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