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WTI-Brent Steady After Recent Fall

OIL

Crude prices are drifting down further as focus remains on the potential for lower oil demand forecasts as economies struggle with high inflation. Next technical support is at yesterday’s lows of 107.03$/bbl for Brent and 101.53$/bbl for WTI.

  • The future possibility of a US recession has pushed WTI prices down faster than Brent resulting in a spread as low as -5.81$/bbl. The spread has recovered slightly this morning after API data last night showed further draws at Cushing.
  • Brent AUG 22 down -1.9% at 109.62$/bbl
  • WTI AUG 22 down -1.9% at 104.13$/bbl
  • Gasoil JUL 22 up 0.6% at 1291.5$/mt
  • WTI-Brent down -0.05$/bbl at -5.5$/bbl
  • Brent AUG 22-SEP 22 up 0.01$/bbl at 3.1$/bbl
  • Brent DEC 22-DEC 23 down -0.34$/bbl at 11.33$/bbl
  • WTI AUG 22-SEP 22 up 0.07$/bbl at 2.27$/bbl
  • WTI DEC 22-DEC 23 down -0.32$/bbl at 11.96$/bbl
Energy BulletsCommodities
Energy BulletsCommodities

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