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Crude Extends Losses on  Druzbha Restart

OIL

Crude extends losses on expected restart of the Druzbha pipeline later today.

  • The next technical support on Brent is at 92.78$/bbl and for WTI is at 87.01$/bbl.
  • Time spreads continue to slowly decline in both the prompt and longer dated period.
    • Brent OCT 22 down -1.8% at 94.56$/bbl
    • WTI SEP 22 down -1.8% at 88.84$/bbl
    • WTI-Brent up 0.19$/bbl at -6.51$/bbl
    • Brent OCT 22-NOV 22 down -0.11$/bbl at 1.35$/bbl
    • Brent DEC 22-DEC 23 down -0.56$/bbl at 6.88$/bbl
    • WTI SEP 22-OCT 22 down -0.03$/bbl at 0.8$/bbl
    • WTI DEC 22-DEC 23 down -0.51$/bbl at 6.9$/bbl

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