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Friday Data Calendar: UofM Sentiment

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TTF Extends Decline to Lowest Since July

COMMODITIES

OIL

  • Brent briefly bounced back up to 86$/bbl before falling back as weak demand growth and a strong dollar are balanced against the possibility of a reaction from OPEC and other supply uncertainty. After the last OPEC meeting, the group indicated that they could take action at any time to address market developments if necessary.
  • Gasoline and diesel cracks have found more support than crude recently due to low stocks and refinery outages and despite low US demand data. GasBuddy data suggests US gasoline demand holding up over the last couple weeks after a big drop at the start of September.
    • Brent NOV 22 down -0.5% at 85.76$/bbl
    • WTI NOV 22 down -0.5% at 78.36$/bbl
    • Gasoil OCT 22 down -1.6% at 947.75$/mt

GAS

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OIL

  • Brent briefly bounced back up to 86$/bbl before falling back as weak demand growth and a strong dollar are balanced against the possibility of a reaction from OPEC and other supply uncertainty. After the last OPEC meeting, the group indicated that they could take action at any time to address market developments if necessary.
  • Gasoline and diesel cracks have found more support than crude recently due to low stocks and refinery outages and despite low US demand data. GasBuddy data suggests US gasoline demand holding up over the last couple weeks after a big drop at the start of September.
    • Brent NOV 22 down -0.5% at 85.76$/bbl
    • WTI NOV 22 down -0.5% at 78.36$/bbl
    • Gasoil OCT 22 down -1.6% at 947.75$/mt

GAS

Keep reading...Show less