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Front crude spreads highest since end of March

BRENT CURVE

Crude front spreads strengthen as near-term curve steepens further.

  • The Brent 1-2 spread and 1-6 spread are trading at the highest since end of March
  • Brent JUL 22-AUG 22 up 0.13$/bbl at 1.93$/bbl
  • Brent AUG 22-SEP 22 up 0.1$/bbl at 2.14$/bbl
  • Brent DEC 22-DEC 23 down -0.23$/bbl at 12.2$/bbl
  • Brent is hovering down 0.8% at 110.6$/bbl as the market waits for any progress on EU talks regarding Russia sanctions, however an agreement is looking unlikely to be reached today.
  • With WTI Jun expiry later this week (19th May) the Jun-Jul WTI spread is not moving but the Jul -Aug spread has rallied from a low of 1.49$/bbl on 11th May up to 2.46$/bbl
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