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Trading: Primarily Energy but also a little Equities, Fixed Income, Metals, U308 and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,059 since Dec 2013
Thanks Given: 4,410
Thanks Received: 10,226
I know this is similar to the chart I posted on Monday which showed the Brent data, but this also shows WTI and I think the divergence between WTI and Brent is interesting especially given how correlated they have been previously....
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals, U308 and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,059 since Dec 2013
Thanks Given: 4,410
Thanks Received: 10,226
I've been threatening to start trading Brent for about a year but it still hasn't happened yet. If you plot that chart as a spread you get a U shaped curve. Front end Brent approx $1 over, second half of this year, Brent-WTI flat and then starting next year Brent-WTI widens continually getting out over $2 at the back. Does make you wonder why it's flat for the second half of this year?
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals, U308 and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,059 since Dec 2013
Thanks Given: 4,410
Thanks Received: 10,226
U.S. Energy Agency Sees Lower Global Oil Prices
The U.S. Energy Department lowered its price expectations for the global Brent crude contract this year and next, saying it expected supplies to grow more than previously anticipated because robust production has persisted despite the market collapse.
The U.S. Energy Information Administration, an analytic division of the Energy Department, said it expected Brent oil prices to average $34 a barrel in 2016 and $40 a barrel in 2017, down from $37 and $50, respectively, from its outlook last month.