No. of Recommendations: 6
Regarding the two oil quotes, WTI is trading higher than Brent. The trend for some years now, has been for Brent to be at a premium to WTI.
Part of it is apparently, WTI is still trading for May contracts, while Brent is trading for June contracts, implying those optimists in the trading pits think this mess will start to blow over in a couple months.
But that is only part of it.
Persian Gulf output is apparently linked to Brent. WTI is linked to North American oil.
According to the report, crude buyers are lining up for USian crude, because they don't need to worry about whether the Strait will be open in a couple months, or still a war zone. This additional demand is pushing the price for WTI higher. This is, of course, the intended result the Trump regime, and it's paymasters in USian big oil, planned. Remember all the whining a couple years ago, about low prices and a reduction of drilling in the US? Problem solved.
Quotes on bubblevision at this time, WTI: $115, up up $2.68. Brent $111, up $1.41.
Steve
