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Cog wrote:Since WTI has drifted down to around $103/bbl, I wonder if this has changed the standings.
Brent WTI oil prices will come closer in H2 2012: Goldman SachsWTI crude oil may soon cost almost the same as Brent oil prices, a research note by Goldman Sachs states. The WTI-Brent spread, the differential between both these oil prices, had spiked to about $ 20/barrel over the past weeks as WTI prices were depressed from high level of inventories.
Goldman expects that the proposed reversal of the seaway pipeline could solve the problem of WTI inventory buildup, thus forcing the spread to narrow down. The seaway pipeline reversal is due on June 01, 2012 and when that happens, Goldman projects that the WTI-Brent spread could narrow to $ 5/barrel by the end of 2012.
SeaGypsy wrote:I am just about ready to concede! Early as it is in the year still, it seems Cog and Kub were on the money predicting some stability emerging in 'post peak/ plateau new normal'. Anything could still happen; I was expecting the volatility of the last couple of years to continue/ looks like I am going to be hobbled this year.
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