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Crude Loses Earlier Gains

OIL

Crude has sunk to rangebound on the day, softening during US hours from its high on $83.72/b during the European morning.

  • Prices remain within the three-day trading range and may be settling back around a new level after easing US inflation data yesterday was providing upside.
  • Brent SEP 24 up 0% at 85.43$/bbl
  • WTI AUG 24 up 0.1% at 82.73$/bbl
  • CPI fell 0.1% m/m in June after unchanged m/m in May, according to the BLS.
  • US PPI rose 0.2% on month, above expectations of 0.1%.

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