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Time Spreads Decline on Steady Supply and Weak Demand

OIL

Crude time spreads extend decline on easing supply concerns and with a fall in crude futures.

  • Concerns that domestic protests might disrupt supplies in Iraq and Libya have currently subsided and a potential cut by OPEC at their meeting on Sep 5 looks uncertain. Crude continues to fall on the prospect of weaker global demand due to hawkish Fed and ECB policy.
    • Brent NOV 22 down -2.6% at 93.18$/bbl
    • WTI OCT 22 down -2.5% at 87.28$/bbl
    • Brent NOV 22-DEC 22 down -0.27$/bbl at 1.16$/bbl
    • Brent DEC 22-DEC 23 down -0.9$/bbl at 8.38$/bbl
    • WTI OCT 22-NOV 22 down -0.09$/bbl at 0.43$/bbl
    • WTI DEC 22-DEC 23 down -0.72$/bbl at 7.9$/bbl
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