WTI-Brent jump

Oil
June 22, 2021

While ICE Brent prompt price for August expiry jumped to 75 $/b on early Tuesday, the spread between US crude (light sweet WTI) and the ICE Brent benchmark narrowed spectacularly from –2.4 $/b to –2 $/b. Gasoil cracks and other refined product prices did not rally as quickly as crude prices, leaving the ICE gasoil crack to a paltry level of 5.8 $/b at the prompt, a level not experienced since mid-April.

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WTI-Brent jump

You might also read :

EUA retreated amid weaker energy complex, oil and US equities

Bearish sentiment continued to prevail in the carbon and power markets

EUAs broke above all-time high on combination of bullish factors

Simplifying energy markets