US oil prices are heading into a sweet spot that could spur the fracking industry to crank up some of the drilling it shut down when crude prices collapsed.
Brent crude oil prices held above USD 112 a barrel on Thursday, supported by upbeat manufacturing data from China and Germany, but US crude stocks remained in focus after capacity in the Seaway pipeline was reduced.
Jason Feer, Vice President and Singapore Bureau Chief, Argus Media, in an interview on CNBC-TV18 spoke about why there was a divergence in crude prices between the NYMEX Crude and Brent Crude and how things would pan out for both these varieties of crude in the days to come.