KEYFACT Energy
WTI (Aug) $69.56 +$1.86, Brent (Aug) $74.03 +$1.77, Diff -$4.47 -9c
USNG (Aug) $2.66 -12c, UKNG (July) 82.0p -3.0p, TTF (Aug) €32.905 -€2.09
Oil price
A quiet week for oil, peculiarly since it started with the Wagner Group attack on Putin, of sorts, and whilst the Central Bank leaders roadshow in Europe remains solid with regard to more rate rises oil demand is tight. This was proved by yesterday’s EIA inventory stats in which crude drew by some 9.603m barrels when the whisper by the scallywags on the street best guess was just over 1m. With demand for gasoline remaining strong and no sign of the USA domestic requirements falling at all I see this remaining as it is for a while.
Access Malcolm Graham Wood's full update here. l KeyFacts Energy Industry Directory: Malcy's Blog