The July Brent futures flat price has just ticked down this morning from a high of $83.25/bbl at 08:05 BST to $82.40/bbl handles at 10:55 BST, where it still currently resides as of 11:10 BST.
The July Brent futures flat price has had a rollercoaster of an afternoon, initially falling to $81.75/bbl as 12:50 BST, before shooting up rapidly to $82.40/bbl by 13:30 BST.
The July Brent futures flat price had a rangebound night and early morning, bouncing between $82.65/bbl and $83.00/bbl from 05:00 BST to 10:30 BST. Since then however, it has seen a fairly sharp downturn, falling around $0.50/bbl in 45 minutes
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‘Strong Brent expiry to give bulls false hope’ or so the meme goes. Immediately following expiry, the North Sea market saw a dramatic capitulation as the physical turned offered.
The July Brent futures flat price has been struggling to garner support this afternoon, sliding down from its daily high of $83.55/bbl at 11:25 BST to its first low of $82.25/bbl at 14:20 BST.
EBOB cracks experienced a fairly weak fortnight, dropping marginally from $22.40/bbl on Apr 30 to $21.50/bbl come May 06, before the decline accelerated, leaving the contract lurking just above $19/bbl.
The July Brent futures flat price has experienced a morning of mixed price action. From a level of around $83.50/bbl at 06:00 BST, the price edged slowly down to its daily low of just over $83/bbl at 09:30 BST.
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The July Brent futures flat price has had a mixed afternoon, initially having a mini rally to $83.40/bbl by 13:40 BST before swiftly dipping to $83.15/bbl at 14:05 BST.
Technical indicators indicated sideways price action in Brent and gasoil futures as the RSI moved out of oversold territory, with the lower Bollinger band providing a level of support. On the other hand, RBOB futures continued its downwards slide with
For the week to May 07, we saw strongly opposing positions adopted by prod/merc players across the two benchmarks, whilst money managers took similar approaches.
July Brent futures witnessed a passive week, as price action remained tight between a range of $81.50-84.50/bbl. There was a slight rally to $84.53/bbl in the early stages of May 10, before prices got scared off the $85/bbl mark and
The July Brent futures flat price has been well-supported this morning, rising from its low of $82.40/bbl at 06:40 BST to a peak of $83.20/bbl at 10:20 BST.
