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Oil Context Weekly (W38)
Flat Prices were range bound and generally directionless through most of the week, but mounting bearish macro sentiment caught up with the barrel and pressed prices steeply lower on Friday to their lowest level since January. Calendar Spreads reflected the general bearishness of crude’s week and both the prompt spread and the bellwether Dec22/Dec23 spread ended the week lower, though remain notably backwardated and still a decent way off from a sign of substantial worry (yet). Inventories data added further downside weight to the barrel, as high frequency stock data reported builds across all major regions (US, ... (full story)
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- Posted: Sep 24, 2022 12:02am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 118
