Malcolm Graham-Wood
Independent Analyst
With no stabilizers, stocks growing and little sign of any restraint from producers, the oil price can only go one way at the moment, sure there may be up days in quiet markets but that’s about it. The mild winter in the Northern hemisphere continues, so stocks are building in product markets as well, what we really need is the once in a lifetime appearance of someone who can change the world…
WTI outperformed Brent as it heads towards expiry which will mean that now on the same month the differential will narrow, added to by the export ban being lifted. Brent went through its 11 year low but i’m sure we can find a stat every day breaking some sort of record. Ironically, despite the warm weather, natural gas had a rally of sorts and today is higher again but also probably transitional, at least it didn't close below the old low which is really scraping the barrel…
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