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Prompt US crude spread Hits Widest Backwardation Since Sep.

OIL

The prompt US WTI futures time spread has reached its widest level since September, having begun its surge Feb. 13.

  • WTI MAR 24-APR 24 up 1.21$/bbl at 1.94$/bbl
  • Tight market conditions amid tanker diversions from the Red Sea, coupled with the geopolitical risk tensions are adding support to the prompt.
  • The WTI March contract expires Tuesday.
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The prompt US WTI futures time spread has reached its widest level since September, having begun its surge Feb. 13.

  • WTI MAR 24-APR 24 up 1.21$/bbl at 1.94$/bbl
  • Tight market conditions amid tanker diversions from the Red Sea, coupled with the geopolitical risk tensions are adding support to the prompt.
  • The WTI March contract expires Tuesday.