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Crude Markets Unwind Earlier Gains

OIL

Wider financial market concerns weigh on crude as prior gains are reversed. The market had found strength earlier on bullish demand sentiment in the latest OPEC monthly report as well as CPI figures falling in line with expectations.

  • On the supply side – Bloomberg headlines said that production at Tengiz, Kazakhstan’s largest field has resumed.
  • Kazakhstan’s production had been hit by as much as 200,000 bpd this month because of maintenance.
  • Brent MAY 23 down -2.3% at 78.93$/bbl
  • WTI APR 23 down -2.4% at 72.98$/bbl
  • Gasoil APR 23 down -1.1% at 795.25$/mt, WTI-Brent up 0.04$/bbl at -5.82$/bbl
Energy BulletsCommodities
Energy BulletsCommodities

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