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Crude Holds Gain Ahead of EIA Data

OIL

Crude holding onto today’s gains ahead of the latest EIA weekly inventory data release as the US are set to announce the final planned 15mbbls barrel release from the SPR.

  • Crude inventories are expected to build by +1.32mbbls for the week ending 14th October with a draw of -1.49mbbls in distillates and -1.23mbbsl for gasoline. Refinery utilization is expected to fall by another 0.23% this week down to 89.7%.
    • Brent DEC 22 up 1.2% at 91.14$/bbl
    • WTI NOV 22 up 1.4% at 84.02$/bbl
    • Gasoil NOV 22 down -2.5% at 1077.25$/mt
    • WTI-Brent down -0.16$/bbl at -7.95$/bbl
    • Brent DEC 22-JAN 23 up 0.23$/bbl at 1.66$/bbl
    • Brent DEC 22-DEC 23 up 0.85$/bbl at 10.92$/bbl

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