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Crude Falls After NY Fed Inflation Expectations

OIL

Crude falls back setting new lows of the day after a jump in median inflation expectations in the NY Fed consumer survey. The move looks largely a result of a rebound in food and energy price expectations.

  • WTI falling faster than Brent bringing the spreads back below -8$/bbl.
    • Brent JAN 23 down -1.7% at 94.37$/bbl
    • WTI DEC 22 down -2.1% at 87.05$/bbl
    • WTI-Brent down -0.22$/bbl at -8.04$/bbl
    • Brent JAN 23-FEB 23 down -0.16$/bbl at 1.42$/bbl
    • Brent JUN 23-DEC 23 down -0.29$/bbl at 4.5$/bbl

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