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Crude Resumes Rally

OIL

Crude oil pushing higher, resuming yesterday’s rally with next technical resistance at the 31st May high of 120.8$/bbl.

  • Brent AUG 22 up 1.1% at 118.93$/bbl
  • WTI JUL 22 up 1.2% at 118.27$/bbl
  • Gasoil JUN 22 up 4.1% at 1309.75$/mt
  • WTI-Brent unchanged at -3.32$/bbl
  • Curve backwardation also strengthening and Dec22-Dec23 spread creeps back up towards the 16.32$/bbl peak from earlier in the week.
  • Brent AUG 22-SEP 22 up 0.14$/bbl at 2.72$/bbl
  • Brent SEP 22-OCT 22 up 0.1$/bbl at 2.58$/bbl
  • Brent DEC 22-DEC 23 up 0.51$/bbl at 15.6$/bbl

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