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Bearish divergence appears between prompt Brent crude price and timespread, Rory Johnston notes

Bearish divergence appears between prompt Brent crude price and timespread, Rory Johnston notes
Brent crude price and timespread diverge

A bearish divergence has emerged between the flat prompt Brent crude futures price and the prompt timespread, according to Rory Johnston. Johnston described this divergence as an interesting development and suggested it is something to watch.

Johnston has recently noted a widening gap between U.S. and Chinese retail diesel prices. Earlier this year, he highlighted Brent crude falling below $100 per barrel for the first time since a pipeline attack amid new diplomatic moves. These developments provide further context for his latest observations on crude benchmarks.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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