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Crude Time Spreads Rally on OPEC Supply Cut Uncertainty

OIL

Crude rallies as supply concerns steepen the forward curve backwardation

  • Brent DEC 22 up 1.3% at 88.29$/bbl
  • WTI NOV 22 up 1.2% at 82.18$/bbl
  • Brent DEC 22-JAN 23 up 0.1$/bbl at 1.8$/bbl
  • Brent JAN 23-FEB 23 up 0.12$/bbl at 1.69$/bbl
  • Brent DEC 22-DEC 23 up 0.47$/bbl at 11.28$/bbl

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