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Crude Holding Within Trading Range With Support from Weaker USD

OIL

Crude holding within the recent trading range with a fall in the USD providing support to commodities including crude.

  • Economic concerns and weak Chinese demand are limiting the upside despite concerns for future Russian output. The tight supplies continue to support time spreads with levels relatively unchanged on the day.
    • Brent JAN 23 down -0.1% at 97.8$/bbl
    • WTI DEC 22 down -0.4% at 91.41$/bbl
    • Brent JAN 23-FEB 23 down -0.12$/bbl at 1.44$/bbl
    • Brent FEB 23-MAR 23 down -0.07$/bbl at 1.41$/bbl
    • Brent JUN 23-DEC 23 down -0.04$/bbl at 4.72$/bbl
    • Brent DEC 23-DEC 24 up 0.13$/bbl at 6.32$/bbl
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Crude holding within the recent trading range with a fall in the USD providing support to commodities including crude.

  • Economic concerns and weak Chinese demand are limiting the upside despite concerns for future Russian output. The tight supplies continue to support time spreads with levels relatively unchanged on the day.
    • Brent JAN 23 down -0.1% at 97.8$/bbl
    • WTI DEC 22 down -0.4% at 91.41$/bbl
    • Brent JAN 23-FEB 23 down -0.12$/bbl at 1.44$/bbl
    • Brent FEB 23-MAR 23 down -0.07$/bbl at 1.41$/bbl
    • Brent JUN 23-DEC 23 down -0.04$/bbl at 4.72$/bbl
    • Brent DEC 23-DEC 24 up 0.13$/bbl at 6.32$/bbl