KEYFACT Energy
WTI (Aug) $74.83 +$1.84, Brent (Sep) $79.40 +$1.71, Diff -$4.57 -13c
USNG (Aug) $2.74 +7c, UKNG (Aug) 70.4p -1.45p, TTF (Aug) €28.15 -€1.6
Oil price
Oil rallied sharply yesterday and today Brent is over $80/b. This is on the back of the EIA’s STEO published yesterday in which they suggested that the oil supply and demand balance was about to tighten, in one case quite strongly later this year. We shall see what the other two organisations say about the situation imminently.
The big deal of the week apart from those reports was the US CPI data today, after a lower figure than the whisper the markets went sharply higher but have since settled down as the Fed will surely still have two raises up its sleeve.
Access Malcolm Graham Wood's full update here. l KeyFacts Energy Industry Directory: Malcy's Blog