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Crude Rebounds Positive on the Day

OIL

Crude oil has rebounded back positive on the day after falling as low as 108.14$/bbl this morning.

  • The front Brent spread has rallied to near the highest for the month as tight supply continues to impact near term prices despite the fears for future demand growth. The longer dated time spreads have also picked up slightly after gradually falling since the 8th June.
  • Brent AUG 22 up 0.5% at 112.31$/bbl
  • WTI AUG 22 up 0.4% at 106.62$/bbl
  • Gasoil JUL 22 up 2.4% at 1314.5$/mt
  • WTI-Brent down -0.22$/bbl at -5.67$/bbl
  • Brent AUG 22-SEP 22 up 0.32$/bbl at 3.41$/bbl
  • Brent DEC 22-DEC 23 up 0.12$/bbl at 11.79$/bbl
  • EIA data scheduled for release this afternoon has been delayed due to system issues. No new release time or date has been given.
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