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Crude Falls as Druzhba Resumes at Low Pressure

OIL

Crude declines after Hungary confirm resumption of Druzhba pipeline flows

  • Pipeline supplies have resumed at low pressure according to Minister of Foreign Affairs Peter Szijjarto.
  • Front month Brent is back down to the lower end of the weekly range with next technical support at 91.53$/bbl. Next support on WTI is at 84.06$/bbl.
    • Brent JAN 23 down -1.5% at 92.49$/bbl
    • WTI DEC 22 down -2% at 85.18$/bbl
    • WTI-Brent down -0.29$/bbl at -7.9$/bbl
    • Brent JAN 23-FEB 23 down -0.02$/bbl at 1.09$/bbl
    • Brent JUN 23-DEC 23 down -0.2$/bbl at 3.96$/bbl

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