The prompt US WTI futures time spread has reached its widest level since September, having begun its surge Feb. 13.

  • WTI MAR 24-APR 24 up 1.21$/bbl at 1.94$/bbl
  • Tight market conditions amid tanker diversions from the Red Sea, coupled with the geopolitical risk tensions are adding support to the prompt.
  • The WTI March contract expires Tuesday.

OIL: Prompt US crude spread Hits Widest Backwardation Since Sep.

Last updated at:Feb-20 18:19By: Lawrence Toye

The prompt US WTI futures time spread has reached its widest level since September, having begun its surge Feb. 13.

  • WTI MAR 24-APR 24 up 1.21$/bbl at 1.94$/bbl
  • Tight market conditions amid tanker diversions from the Red Sea, coupled with the geopolitical risk tensions are adding support to the prompt.
  • The WTI March contract expires Tuesday.