Free Trial

Crude Resume Decline on Demand Fears

OIL

Crude resumes the decline from yesterday to take Brent front month back below 75$/bbl driven by recessionary fears and concern for future oil demand growth ahead.

  • Next technical support for Brent is at 74.06$/bbl and WTI is at 70$/bbl.
    • Brent JUL 23 down -0.7% at 74.79$/bbl
    • WTI JUN 23 down -0.9% at 71.04$/bbl
    • WTI-Brent down -0.04$/bbl at -3.85$/bbl
    • Brent JUL 23-AUG 23 down -0.02$/bbl at 0.26$/bbl
    • Brent DEC 23-DEC 24 down -0.11$/bbl at 2.43$/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.