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WTI Maintains Discount to Brent

OIL

WTI spread to Brent maintaining near to -9$/bbl as both crude grades tick higher on the day

  • Brent SEP 22 up 1.5% at 108.22$/bbl
  • WTI SEP 22 up 2.1% at 99.27$/bbl
  • WTI-Brent up 0.29$/bbl at -8.97$/bbl
  • The spread has gradually fallen in recent weeks due to concerns for the US economy and a reduction in Russia crude supply to Europe.
  • Ongoing tight global supply is keeping physical markets tight and holding financial markets up despite concerns for future economic growth.
Source: Bloomberg

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