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Front Brent Spreads Tick Higher

OIL

Spreads at the front of the Brent curve are strengthening again as supply concerns keep markets tight.

  • UAE oil minister yesterday warned that prices to rise higher with OPEC members struggling to increase production and China demand potentially rebounding.
  • The longer dated Brent Dec22-Dec23 spread has been hovering at record high levels all week.
  • WTI spreads are strong but remain relatively stable so far today.
  • Brent AUG 22-SEP 22 up 0.01$/bbl at 2.7$/bbl
  • Brent DEC 22-DEC 23 down -0.37$/bbl at 16.13$/bbl
  • WTI JUL 22-AUG 22 down -0.01$/bbl at 2.32$/bbl
  • WTI DEC 22-DEC 23 down -0.32$/bbl at 16.85$/bbl

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