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Crude Pulls Back on Economic Growth Concerns


Crude has reversed earlier gains as economic concerns weigh on the market. Central bank tightening and recession fears caused OPEC, EIA and IEA to all downgrade oil demand growth estimates in monthly reports last week.

Crude time spreads have followed the move and now trading lower on the day.

  • Brent DEC 22 down 0% at 91.62$/bbl
  • WTI NOV 22 down -0.1% at 85.56$/bbl
  • Gasoil NOV 22 up 1.4% at 1101$/mt
  • WTI-Brent up 0.2$/bbl at -6.96$/bbl
  • Brent DEC 22-JAN 23 down -0.11$/bbl at 1.37$/bbl
  • Brent DEC 22-DEC 23 down -0.3$/bbl at 11.52$/bbl

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