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Crude Loses Earlier Gains Ahead of Updated EIA Data

OIL

Crude pulls back from the earlier upwards move with demand concerns still in focus ahead of the update US inventory data later today.

  • The day delayed EIA weekly petroleum inventory data is due for release this afternoon at 16:00GMT. Expectation is for the stock data to show a small build in crude and small product stocks draws with a decline in refinery utilisation.
  • Diesel and gasoline crack spreads are holding steady with the EIA data expected to reflect the impact of the severe cold weather disruption during late December.
    • Brent MAR 23 up 0.4% at 78.13$/bbl
    • WTI FEB 23 up 0.3% at 73.06$/bbl
    • Gasoil JAN 23 up 2.3% at 862.5$/mt
    • WTI-Brent down -0.22$/bbl at -4.8$/bbl
    • Brent MAR 23-APR 23 up 0.02$/bbl at -0.15$/bbl
    • Brent JUN 23-DEC 23 unchanged at 1.63$/bbl
    • US gasoline crack up 0.3$/bbl at 22.38$/bbl
    • US ULSD crack up 0.1$/bbl at 53.06$/bbl
Energy BulletsCommodities
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