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Crude Pulls Back But Still On Track for Weekly Gain

OIL

Crude falls back towards the low from yesterday with no obvious driver but remains on track for a net gain on the week.

  • Front month Brent reached a high of the week of 84.48$/bbl yesterday ahead of the Sep contract expiry on Monday.
  • The move in futures has been followed by weaker time spreads while the WTI-Brent fell down to a low for the week of -4.19$/bbl before recovering.
    • Brent SEP 23 down -0.6% at 83.74$/bbl
    • WTI SEP 23 down -0.5% at 79.68$/bbl
    • WTI-Brent down -0.02$/bbl at -4.05$/bbl
    • Brent SEP 23-OCT 23 down -0.08$/bbl at 0.37$/bbl
    • Brent DEC 23-DEC 24 down -0.2$/bbl at 4.42$/bbl
    • WTI SEP 23-OCT 23 down -0.03$/bbl at 0.43$/bbl
    • WTI DEC 23-DEC 24 down -0.16$/bbl at 4.89$/bbl
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