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Crude Falls and Time Spreads Lose Earlier Gains

OIL

Crude falls as demand concerns and a stronger US dollar outweigh reports that OPEC may consider a production cut between 0.5 and 1mbpd next week.

  • Crude time spreads have also pulled back to flat on the day having rallied earlier this morning.
    • Brent DEC 22 down -1.1% at 86.2$/bbl
    • WTI NOV 22 down -1.1% at 80.34$/bbl
    • Gasoil OCT 22 down -2.4% at 987.75$/mt
    • WTI-Brent down -0.76$/bbl at -8.01$/bbl
    • Brent DEC 22-JAN 23 up 0.02$/bbl at 1.72$/bbl
    • Brent DEC 22-DEC 23 up 0.01$/bbl at 10.82$/bbl

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