Brent Experiences Strong Correction down to $86/bbl Levels
The prompt Brent futures contract has seen a retracement downwards this morning to $86.35/bbl at 10:35 BST.
News
Oil Prices Sell Off Amid Crude Build and Waning Wartime Risk
Jun Brent futures flat price remained rangebound around $89.50/bbl until 13:15 BST today, following which the contract sold off and reached $87.60/bbl come 17:20 BST (time of writing).
Brent Stable Around $89/bbl Levels
The prompt Brent futures contract saw a quiet start to the morning before experiencing a retracement downwards, from $89.82/bbl at 09:15 BST down to $89.06/bbl at 10:15 BST.
Leaves are turning green but Dated turned red…
Dated Brent structure saw a real (if short-lived) Easter story as bullish narrative was taking hold of the market and as spring sprung, so did Dated…
Brent Struggling To Support Itself Above The $90/bbl Mark
Prompt Brent futures flat price has witnessed a mixed afternoon period, struggling to support itself above the $90/bbl mark. This was evidenced as twice prices passed the $90/bbl threshold before retracing lower.
Gasoline Report: Game Of Two Halves
The May EBOB crack witnessed a fortnight of two halves. Initially, prices opened below the $21/bbl mark on Apr 09, facing downward pressure.
Brent Corrects Down to sub $90/bbl Levels
The prompt Brent futures contract has seen a correction downwards this morning, sliding from $90.77/bbl levels to just below the $90/bbl mark, trading at $89.91/bbl at 10:30 BST
Brent Lower Amid Directional Uncertainty
Jun Brent flat price weakened further into the afternoon, moving from $89.85/bbl around noon to $88.80/bbl come 15:15 BST.
Futures Report: World Affairs Brings The Bears
Technical indicators for the current period highlighted similar trends across product groups. Brent’s RSI has been hovering around overbought territory, with price action oscillating around the $90/bbl mark throughout the week.