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Spreads Following Crude

OIL

Front Brent spreads are following crude flat price futures moves. Brent is bouncing between 119.5$/bbl and 120.9$/bbl this morning with demand uncertainty driving prices lower.

  • The technical outlook for crude prices still looks bullish despite the pull back since late Friday. Further disruption to supplies from Libya with most of their fields closed are adding to the limited supply picture.
  • Brent AUG 22 down -1.7% at 119.9$/bbl
  • WTI JUL 22 down -1.8% at 118.5$/bbl
  • WTI-Brent up 0.03$/bbl at -3.94$/bbl
  • Brent AUG 22-SEP 22 unchanged at 2.99$/bbl
  • Brent DEC 22-DEC 23 down -0.72$/bbl at 14.47$/bbl
  • WTI JUL 22-AUG 22 down -0.01$/bbl at 2.54$/bbl
  • WTI DEC 22-DEC 23 down -0.68$/bbl at 15.11$/bbl

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