Free Trial
EURIBOR

EURIBOR FIX

COMMODITIES

Dollar Gains Drag On Precious Metals

FRANCE T-BILL AUCTION PREVIEW

E4.6-5.8bln on offer next week

POLAND

Wibor Rates

HUNGARY

Bubor Rates

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Support for Brent Time Spreads After OPEC+ Meeting

OIL

Brent time spreads recovering some ground after a week of losses

  • Easing sentiment of supply constraints after the return of Libyan supplies back to 1.2mbpd and reports of a smaller impact of sanctions on Russia flow than originally forecast have pushed spreads lower in recent weeks.
  • Spreads are finding support after the very limited action from OPEC+ earlier in the week, with only a 100kbpd increase in Sep. They also gave warnings of limitations on spare capacity and look to be saving production in case of future supply disruptions.
  • Flat price is hovering just up on the day as economic concerns are weighed against the uncertain supply picture.
    • Brent OCT 22 up 0.2% at 94.31$/bbl
    • WTI SEP 22 up 0% at 88.58$/bbl
    • Brent OCT 22-NOV 22 up 0.15$/bbl at 1.77$/bbl
    • Brent DEC 22-DEC 23 up 0.31$/bbl at 7.43$/bbl
    • WTI SEP 22-OCT 22 up 0.03$/bbl at 1.01$/bbl
    • WTI DEC 22-DEC 23 up 0.26$/bbl at 7.65$/bbl
145 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Brent time spreads recovering some ground after a week of losses

  • Easing sentiment of supply constraints after the return of Libyan supplies back to 1.2mbpd and reports of a smaller impact of sanctions on Russia flow than originally forecast have pushed spreads lower in recent weeks.
  • Spreads are finding support after the very limited action from OPEC+ earlier in the week, with only a 100kbpd increase in Sep. They also gave warnings of limitations on spare capacity and look to be saving production in case of future supply disruptions.
  • Flat price is hovering just up on the day as economic concerns are weighed against the uncertain supply picture.
    • Brent OCT 22 up 0.2% at 94.31$/bbl
    • WTI SEP 22 up 0% at 88.58$/bbl
    • Brent OCT 22-NOV 22 up 0.15$/bbl at 1.77$/bbl
    • Brent DEC 22-DEC 23 up 0.31$/bbl at 7.43$/bbl
    • WTI SEP 22-OCT 22 up 0.03$/bbl at 1.01$/bbl
    • WTI DEC 22-DEC 23 up 0.26$/bbl at 7.65$/bbl