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Crude Rallies After Surge in US Jobs

OIL

Crude is ticking higher with WTI rising faster than Brent following a surge in US job gains in January above expectation.

  • The WTI-Brent spread has closed in from -6.02$/bbl up to -5.8$/bbl.
  • Next technical resistance on WTI is up at the 30 Jan high of 80.49$/bbl and Brent at the 1 Feb high of 86.21$/bbl.
    • Brent APR 23 up 1.6% at 83.45$/bbl
    • WTI MAR 23 up 1.9% at 77.33$/bbl
    • WTI-Brent up 0.08$/bbl at -5.82$/bbl
    • WTI MAR 23-APR 23 up 0.02$/bbl at -0.3$/bbl
    • WTI JUN 23-DEC 23 up 0.34$/bbl at 2.48$/bbl
    • Brent APR 23-MAY 23 up 0.07$/bbl at 0.21$/bbl
    • Brent JUN 23-DEC 23 up 0.3$/bbl at 2.67$/bbl

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