WTI December 2024 December 2025 Spread

The December 2024 vs December 2025 WTI spread has fallen back in tandem with the lower front end spreads.

News seen today gives some reasoning for the overall weaker tone for crude spreads : "" The North Sea physical market was also in retreat as flagship Forties traded in Monday's MOC window at +$0.60/b to the underlying Dated Brent swap on a FOB basis, having last traded at +1/b on Wednesday." (Quantum Commodities)

That news is in addition to the weaker tone for the crude market overall due to disappointing economic news from China, underscoring demand concerns. Monday's weak Chinese GDP data and lower crude imports are weighing on the energies. Diesel demand for the first 5 months of the year is down 14%. The second quarter GDP reading was the slowest since the first quarter 2023. Crude imports in June were the lowest seen this year. (Reuters)

Technically, the December 2024 2025 spread has negative momentum. Support lies at the recent double bottom at $4.91. Below that next support lies in the $4.50 area. Upside resistance for December 2024 versus December 2025 lies at the area near yesterday's high at $5.51-$5.55. Above that resistance lies at Friday's high at $5.87.

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