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Prompt Brent Spread Testing Highs

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Near term Brent spreads pushing back up with Sep-Oct heading toward records levels again. Expiry for the Sep Brent contract is due tomorrow.

  • The Oct-Nov spread is at historically high levels but off from the peaks reached earlier this month.
  • The longer term Dec-Dec spread has been largely following the trend in outright crude markets and has fallen back from a peak at 16.5$/bbl in earlier June to around 10$/bbl.
  • The stock draw from EIA in data released yesterday and a potential for a slowing pace of US interest rate hikes are supporting crude prices today.
  • Brent SEP 22 up 1.5% at 108.24$/bbl
  • WTI SEP 22 up 1.5% at 98.76$/bbl
  • WTI-Brent down -0.21$/bbl at -9.47$/bbl
  • Brent SEP 22-OCT 22 up 0.05$/bbl at 5$/bbl
  • Brent OCT 22-NOV 22 up 0.16$/bbl at 2.39$/bbl
  • Brent DEC 22-DEC 23 up 0.58$/bbl at 9.84$/bbl
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Near term Brent spreads pushing back up with Sep-Oct heading toward records levels again. Expiry for the Sep Brent contract is due tomorrow.

  • The Oct-Nov spread is at historically high levels but off from the peaks reached earlier this month.
  • The longer term Dec-Dec spread has been largely following the trend in outright crude markets and has fallen back from a peak at 16.5$/bbl in earlier June to around 10$/bbl.
  • The stock draw from EIA in data released yesterday and a potential for a slowing pace of US interest rate hikes are supporting crude prices today.
  • Brent SEP 22 up 1.5% at 108.24$/bbl
  • WTI SEP 22 up 1.5% at 98.76$/bbl
  • WTI-Brent down -0.21$/bbl at -9.47$/bbl
  • Brent SEP 22-OCT 22 up 0.05$/bbl at 5$/bbl
  • Brent OCT 22-NOV 22 up 0.16$/bbl at 2.39$/bbl
  • Brent DEC 22-DEC 23 up 0.58$/bbl at 9.84$/bbl