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Crude Holding Small Losses After Soft US ISM Data

OIL

Crude futures and time spreads are holding onto small losses from earlier today despite a modest pullback in the US dollar on the soft US ISM data release.

  • Front month Brent has recovered from a low of 84.58$/bbl today but is holding within the trading range seen yesterday.
  • Next technical resistance for Brent is at 85.6$/bbl with key resistance at 86.18$/bbl. Support for Brent is down at 80.65$/bbl with key support at 78.1$/bbl.
    • Brent OCT 23 down -0.5% at 84.97$/bbl
    • WTI SEP 23 down -0.6% at 81.3$/bbl
    • WTI-Brent down -0.31$/bbl at -4.11$/bbl
    • Brent OCT 23-NOV 23 down -0.05$/bbl at 0.43$/bbl
    • Brent DEC 23-DEC 24 down -0.09$/bbl at 4.9$/bbl
    • WTI SEP 23-OCT 23 down -0.04$/bbl at 0.44$/bbl
    • WTI DEC 23-DEC 24 down -0.1$/bbl at 5.39$/bbl

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