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Crude Higher with Focus on Supply Concerns

OIL

Market uncertainty is driving high crude oil volatility and intraday price swings. Crude and products are trading higher with increase uncertainty over Russian supplies and OPEC production targets despite the ongoing demand worries.

  • EU are expected to announce a new package of EU sanctions at a press conference later. The EU may propose the expedition of a EU-wide price cap on Russian crude oil while the US is also pushing for the implementation of a price cap. Russia have previously stated that they will not supply fuel to any nations or companies implementing a price cap.
    • Brent NOV 22 up 0.9% at 87.03$/bbl
    • WTI NOV 22 up 1.4% at 79.59$/bbl
    • Gasoil OCT 22 up 2.3% at 989.25$/mt
    • WTI-Brent up 0.32$/bbl at -7.43$/bbl
    • Brent NOV 22-DEC 22 down -0.14$/bbl at 1.26$/bbl
    • Brent DEC 22-DEC 23 up 0.25$/bbl at 10.1$/bbl
Energy BulletsCommodities
Energy BulletsCommodities

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