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WTI-Brent Spread Recovers from Earlier Losses

OIL

Oil prices ease back but still higher on the day. After reaching a low of -8.80$/bbl this morning the WTI-Brent spreads has recovered as outright Brent moves have steadied.

  • A slight pick up in financial markets and weaker dollar have provided some support with the ongoing balance between future demand growth and supply concerns.
  • Brent SEP 22 up 0.9% at 104.14$/bbl
  • WTI SEP 22 up 1.1% at 95.77$/bbl
  • WTI-Brent up 0.16$/bbl at -8.4$/bbl
  • Brent SEP 22-OCT 22 up 0.18$/bbl at 5$/bbl
  • Brent DEC 22-DEC 23 up 0.1$/bbl at 9.33$/bbl
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Oil prices ease back but still higher on the day. After reaching a low of -8.80$/bbl this morning the WTI-Brent spreads has recovered as outright Brent moves have steadied.

  • A slight pick up in financial markets and weaker dollar have provided some support with the ongoing balance between future demand growth and supply concerns.
  • Brent SEP 22 up 0.9% at 104.14$/bbl
  • WTI SEP 22 up 1.1% at 95.77$/bbl
  • WTI-Brent up 0.16$/bbl at -8.4$/bbl
  • Brent SEP 22-OCT 22 up 0.18$/bbl at 5$/bbl
  • Brent DEC 22-DEC 23 up 0.1$/bbl at 9.33$/bbl