Free Trial

Crude Pushes Higher After EIA Crude Stock Draw

OIL

Crude pushes higher after the EIA crude stock draw with key resistance in the Brent Jan23 contract at 96.75$/bbl and in WTI Dec22 at 92.34$/bbl.

  • Time spreads rally with Dec23-Dec24 up to the highest since Oct 14 and the prompt spreads also moving towards the top of the recent range.
    • Brent JAN 23 up 1.7% at 96.29$/bbl
    • WTI DEC 22 up 2% at 90.14$/bbl
    • WTI-Brent down -0.11$/bbl at -7.36$/bbl
    • Brent JAN 23-FEB 23 down -0.03$/bbl at 1.83$/bbl
    • Brent FEB 23-MAR 23 up 0.03$/bbl at 1.65$/bbl
    • Brent JUN 23-DEC 23 up 0.13$/bbl at 4.29$/bbl
    • Brent DEC 23-DEC 24 up 0.28$/bbl at 5.73$/bbl

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.