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OIL
Crude time spreads continue to trend lower with Jun23-Dec23 just above parity at 1.75$/bbl and the prompt Brent spread shifting into a slight contango yesterday ahead of the June 2023 futures contract expiry tomorrow.
- The crude time spreads have followed the decline in futures and are now back at the low levels seen in March before the OPEC+ production cut announcement.
- Brent JUN 23 up 0% at 77.72$/bbl
- WTI JUN 23 up 0% at 74.31$/bbl
- Brent JUN 23-JUL 23 up 0.02$/bbl at -0.01$/bbl
- Brent JUN 23-DEC 23 up 0.09$/bbl at 1.75$/bbl
- Brent DEC 23-DEC 24 unchanged at 3.09$/bbl
- WTI JUN 23-JUL 23 down -0.01$/bbl at 0.1$/bbl
- WTI JUN 23-DEC 23 down -0.02$/bbl at 2.24$/bbl
- WTI DEC 23-DEC 24 unchanged at 3.45$/bbl
Source: Bloomberg
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.
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