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Spread Closes as WTI Gains on Brent

OIL

WTI prices have regained some ground on Brent after falling on concerns for a US recession. WTI-Brent back up to -8.30$/bbl from a low of -8.78$/bbl this morning.

The Brent 1-2 spreads has fallen back from record highs as Libya supply returns but the curve remains in steep backwardation.

  • Brent SEP 22 up 1.3% at 106.54$/bbl
  • WTI SEP 22 up 1.6% at 98.24$/bbl
  • WTI-Brent up 0.09$/bbl at -8.3$/bbl
  • Brent SEP 22-OCT 22 down -0.18$/bbl at 4.78$/bbl
  • Brent DEC 22-DEC 23 up 0.35$/bbl at 9.72$/bbl
  • WTI SEP 22-OCT 22 up 0.11$/bbl at 2.39$/bbl
  • WTI DEC 22-DEC 23 up 0.38$/bbl at 10.21$/bbl

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