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Crude extends losses; Gasoil Still Flat

OIL

Crude extends losses on recession and demand concerns

  • Economic demand concerns, risk aversion and stronger dollar all feeding into lower oil prices. Crude futures and gasoline cracks are all falling, with time spreads drifting lower but diesel maintaining strength.
  • Brent OCT 22 down -4.2% at 92.68$/bbl
  • WTI OCT 22 down -4.3% at 86.57$/bbl
  • Gasoil SEP 22 up 0.2% at 1089.25$/mt
  • Brent OCT 22-NOV 22 down -0.23$/bbl at 0.4$/bbl
  • Brent DEC 22-DEC 23 down -1.34$/bbl at 6.75$/bbl
  • US gasoline crack down -3.5$/bbl at 32.46$/bbl
  • US ULSD crack up 3.8$/bbl at 68.45$/bbl

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