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Crude Volatile Following Soft US Data


Brent lost ground after data showed softer Core PCE and US personal spending in July but has since recovered back positive on the day.

  • Consumer spending of goods including gasoline slowed in July compared to June but future oil supply concerns have brought crude back higher.
  • Crude futures are still trading down from the peak at 101.3$/bbl earlier today but prompt time spreads are holding on to gains.
  • Brent OCT 22 up 0.6% at 99.90$/bbl
  • WTI OCT 22 up 0.4% at 92.86$/bbl
  • WTI-Brent down -0.26$/bbl at -7.08$/bbl
  • Brent OCT 22-NOV 22 up 0.22$/bbl at 1.1$/bbl
  • Brent DEC 22-DEC 23 down -0.02$/bbl at 10.06$/bbl

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