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Crude term structure strengthens

OIL

Crude term structure continues to strengthen as flat price ticks higher.

  • Front spreads in both Brent and WTI are the highest since March on the possibility of higher summer product demand alongside continuing supply concerns. WTI discount to Brent steady at -2.4$/bbl.
  • Brent JUL 22 up 1.2% at 113.91$/bbl and WTI JUL 22 up 1.1% at 111.47$/bbl
  • Brent JUL 22-AUG 22 up 0.15$/bbl at 2.71$/bbl
  • Brent DEC 22-DEC 23 up 0.3$/bbl at 12.63$/bbl
  • WTI JUL 22-AUG 22 up 0.06$/bbl at 3.17$/bbl
  • WTI DEC 22-DEC 23 up 0.26$/bbl at 13.15$/bbl

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