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Crude Reverses Decline to Test Recent Range High

OIL

Crude reverses earlier decline to test the recent range highs around 94.3$/bbl for Brent following a softer US dollar.

  • The time spreads are still down on the day with the prompt holding steady but the longer dated Dec22-Dec23 spread is following the flat price moves.
    • Brent DEC 22 up 0.7% at 93.93$/bbl
    • WTI DEC 22 up 1.3% at 85.7$/bbl
    • Gasoil NOV 22 down -1.2% at 1069.5$/mt
    • WTI-Brent up 0.36$/bbl at -8.22$/bbl
    • Brent DEC 22-JAN 23 down -0.22$/bbl at 1.83$/bbl
    • Brent JAN 23-FEB 23 down -0.08$/bbl at 1.7$/bbl
    • Brent DEC 22-DEC 23 down -0.18$/bbl at 12.24$/bbl

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