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Crude Regains Earlier Losses as Spreads Resume Push Higher

OIL

Crude oil back near to flat on the day as supply risks offset downward pressure from the strong US dollar and economic growth concerns.

  • Crude time spreads have resumed a push higher from yesterday with risks of OPEC cuts and uncertainty over Russian production later this year and into 2023. Kazakhstan output is also still curtailed but aims are for output at the large Kashagan field to resume by the end of October.
    • Brent NOV 22 down -0.1% at 86.17$/bbl
    • WTI NOV 22 down -0.3% at 78.29$/bbl
    • WTI-Brent down -0.13$/bbl at -7.88$/bbl
    • Brent NOV 22-DEC 22 up 0.05$/bbl at 1.45$/bbl
    • Brent DEC 22-JAN 23 up 0.03$/bbl at 1.79$/bbl
    • Brent DEC 22-DEC 23 up 0.17$/bbl at 10.02$/bbl
Energy BulletsCommodities
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