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Crude Pulls Back Losing Earlier Gains

OIL

Brent turns negative on the day with long dated time spreads following

  • Both outright Brent and the Dec22-Dec23 spread have lost earlier gains as the bearish sentiment due to economic concerns and easing supply outweigh positive signs from data over the weekend.
  • Brent OCT 22 down -0.6% at 94.38$/bbl
  • WTI SEP 22 down -0.6% at 88.46$/bbl
  • WTI-Brent up 0.02$/bbl at -6.84$/bbl
  • Brent OCT 22-NOV 22 down -0.12$/bbl at 1.62$/bbl
  • Brent DEC 22-DEC 23 down -0.1$/bbl at 7.4$/bbl
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Brent turns negative on the day with long dated time spreads following

  • Both outright Brent and the Dec22-Dec23 spread have lost earlier gains as the bearish sentiment due to economic concerns and easing supply outweigh positive signs from data over the weekend.
  • Brent OCT 22 down -0.6% at 94.38$/bbl
  • WTI SEP 22 down -0.6% at 88.46$/bbl
  • WTI-Brent up 0.02$/bbl at -6.84$/bbl
  • Brent OCT 22-NOV 22 down -0.12$/bbl at 1.62$/bbl
  • Brent DEC 22-DEC 23 down -0.1$/bbl at 7.4$/bbl