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Crude Turns Negative, Reversing Earlier Gains

OIL

Crude falls back negative on the day reversing earlier gains helped by a stronger US dollar. The market continues to weigh weak near term demand and economic recession fears against China demand optimism and further potential Russian supply disruption.

  • Time spreads, especially longer dated spreads are following the move lower.
    • Brent MAR 23 down -0.3% at 85.91$/bbl
    • WTI MAR 23 down -0.5% at 80.24$/bbl
    • Brent MAR 23-APR 23 down -0.03$/bbl at -0.18$/bbl
    • Brent JUN 23-DEC 23 down -0.13$/bbl at 2.79$/bbl
    • Brent DEC 23-DEC 24 down -0.11$/bbl at 5.03$/bbl
Energy BulletsCommodities
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