Crude Oil Futures Plunge $3/B As Sentiment Remains Bearish

S&P Global2022-06-23

HIGHLIGHTSRecession fears continue to plague sentiment"Very challenging" to achieve soft landing for economy: PowellOil market remains tightCrude oil futures were sharply lower in mid-morning trade in...

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Comments

Gladys8jk
2022-06-23
Gladys8jk
Ok
IZLIN
2022-06-23
IZLIN
@Sagi08 @Meow17 @simplydkam[Surprised]
Mich77
2022-06-23
Mich77
read
MO75
2022-06-23
MO75
Why petrol price is not dropping that fast.

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The backwardation in prompt ICE Brent intermonth spreads in recent days has strengthened despite falling flat prices.US President Joe Biden June 22 called on Congress to waive federal taxes on gasoline and diesel through September to ease the burden of soaring prices.Although the proposal faces a tough road to approval in Congress, the tax holiday would amount to a 3.5% discount on gasoline, which could increase US gasoline demand by roughly 1%, said Rick Joswick, Platts Analytics' head of global oil at S&P Global Commodity Insights.Dubai crude swaps were lower in mid-morning trade in Asia June 23 from the previous close, though intermonth spreads were higher.The August Dubai swap was pegged at $97.88/b at 10 am Singapore time (0200 GMT), down $1.39/b (1.4%) from the June 22 Asian market close.The July-August Dubai swap intermonth spread was pegged at $3.43/b at 10 am, up 4 cents/b over the same period, and the August-September intermonth spread was pegged at $2.49/b, up 5 cents/b.The August Brent-Dubai EFS was pegged at $10.73/b, down 6 cents/b.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9043793642,"gmtCreate":1655960553286,"gmtModify":1676535741023,"author":{"id":"4094787128284850","authorId":"4094787128284850","name":"Gladys8jk","avatar":"https://static.tigerbbs.com/789bbf473867763cd44be080e269826d","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4094787128284850","authorIdStr":"4094787128284850"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9043793642","repostId":1137094623,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9043709892,"gmtCreate":1655958828817,"gmtModify":1676535740635,"author":{"id":"3581848609787274","authorId":"3581848609787274","name":"IZLIN","avatar":"https://static.tigerbbs.com/f2241963762942310c858a3aae49c0d1","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":2,"crmLevelSwitch":1,"idStr":"3581848609787274","authorIdStr":"3581848609787274"},"htmlText":"<a href=\"https://ttm.financial/U/3582026494482473\">@Sagi08</a><a href=\"https://ttm.financial/U/3581561113691319\">@Meow17</a><a href=\"https://ttm.financial/U/3582502706085184\">@simplydkam</a>[Surprised]&nbsp;","listText":"<a href=\"https://ttm.financial/U/3582026494482473\">@Sagi08</a><a href=\"https://ttm.financial/U/3581561113691319\">@Meow17</a><a href=\"https://ttm.financial/U/3582502706085184\">@simplydkam</a>[Surprised]&nbsp;","text":"@Sagi08@Meow17@simplydkam[Surprised]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9043709892","repostId":1137094623,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9043427186,"gmtCreate":1655954154445,"gmtModify":1676535739845,"author":{"id":"3581849551321020","authorId":"3581849551321020","name":"Mich77","avatar":"https://static.tigerbbs.com/e68e0beedd6e067e59c605653c639699","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581849551321020","authorIdStr":"3581849551321020"},"htmlText":"read","listText":"read","text":"read","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9043427186","repostId":1137094623,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9043425545,"gmtCreate":1655954038987,"gmtModify":1676535739734,"author":{"id":"3585255751373364","authorId":"3585255751373364","name":"MO75","avatar":"https://static.tigerbbs.com/d033068949889afd8c31c73da66c8e75","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":5,"crmLevelSwitch":1,"idStr":"3585255751373364","authorIdStr":"3585255751373364"},"htmlText":"Why petrol price is not dropping that fast.&nbsp;","listText":"Why petrol price is not dropping that fast.&nbsp;","text":"Why petrol price is not dropping that fast.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9043425545","repostId":1137094623,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":53,"commentSize":4,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; 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