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Crude Falls Back Towards Lows From Friday Amid Stronger USD

OIL

Crude eases back towards the lows from Friday just above 85$/bbl as the market assess the tighter market supply against ongoing global economic concerns and assisted by a stronger US dollar today.

  • Technical support for Brent Oct 23 is down at 82.36$/bbl with resistance at the intraday high of 86.73$/bbl.
  • Crude time spreads are following the move lower while the WTI-Brent spread is slightly narrower up at -3.93$/bbl.
    • Brent OCT 23 down -1% at 85.4$/bbl
    • WTI SEP 23 down -1% at 81.96$/bbl
    • WTI-Brent up 0.03$/bbl at -3.93$/bbl
    • Brent OCT 23-NOV 23 down -0.04$/bbl at 0.42$/bbl
    • Brent DEC 23-DEC 24 down -0.23$/bbl at 4.89$/bbl
    • WTI SEP 23-OCT 23 down -0.06$/bbl at 0.49$/bbl
    • WTI DEC 23-DEC 24 down -0.22$/bbl at 5.44$/bbl

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