Free Trial

Demand Concerns Weigh on Prompt Brent Spread

OIL

Prompt Brent spread is falling as weak near term demand and concern to global demand growth is adding downside pressure to the spread. The Brent spread is still positive unlike the WTI prompt spread which has been mostly trading in contango since November.

  • The Apr-May spread is down from 0.29$/bbl to 0.12$/bbl today and was as high as 0.38$/bbl last week.
  • Front month Brent crude is ticking back up from a low of 81.71$/bbl earlier today but remains down on the day.
    • Brent APR 23 down -0.7% at 82.45$/bbl
    • WTI APR 23 down -0.7% at 75.85$/bbl
    • WTI-Brent up 0.08$/bbl at -6.59$/bbl
    • Brent APR 23-MAY 23 down -0.16$/bbl at 0.12$/bbl
    • Brent JUN 23-DEC 23 down -0.13$/bbl at 2.29$/bbl

To read the full story

Close

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.