Widening spread between Brent and WTI Crude: Mecklai
Published on Thu, Feb 09, 2012 at 13:40 | Source : Moneycontrol.com
Updated at Thu, Feb 09, 2012 at 13:51
Like this story, share it with millions of investors on M3
0
Like this story, share it with millions of investors on M3
Widening spread between Brent and WTI Crude: Mecklai
Mecklai graph of the day - The spread between WTI Crude traded on New York Mercantile Exchange and Brent crude traded on ICE Futures London has reached its widest level since November 2011.
Mecklai graph of the day - Widening spread between Brent and WTI Crude
The spread between WTI Crude traded on New York Mercantile Exchange and Brent crude traded on ICE Futures London has reached its widest level since November 2011. This spread has primarily widened because of strong demand for Brent Crude in Europe arising out of cold climate across the entire European continent. At the same time, there is plentiful supply of WTI Crude in the US in turn causing a fall in WTI prices.
Going forward continued strong demand for Brent with an increase in the supply of WTI might cause the spread to breach its highest level of $22.91 seen in August 2011.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
