The price of West Texas Intermediate (WTI) exceeded Brent for the first time since July 2013 today, before closing at $48.63 – just $0.14 below its spot price counterpart. In an interview with Bloomberg, John Kilduff, a partner at Again Capital LLC, said, “Strong refinery utilization here is giving WTI support, while Brent is tied to the oversupplied European market.”
$70-$100 per Barrel for the Coming 5-10 Years In its Oil Market Report sent to clients today, DNB Bank’s Oslo research team led by oil market analyst Torbjørn Kjus, said “we now believe prices have dropped to unsustainably low levels and our oil price forecast is now bullish vs the whole forward strip.” In its analysis, DNB sees the 20%-30% CapEx
Hell no, I do not want to relive 1986! Yesterday a client said, “It feels like 1986.” We haven’t heard that since 1986, and that year was a pivotal one. The United Kingdom and France announced plans to construct the Channel Tunnel The Space Shuttle Challenger disintegrated shortly after launch Halley’s Comet made its second visit to our solar system
