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| The Brent-WTI spread closed higher this week at/near $22.12. This is interesting for two reasons: 1. $20 has been a key resistance level for months, 2. The market's clear sellside bias in WTI this week. Yet again this week, we see aggressive selling in WTI with a rising Brent-WTI spread. Next week's response to these diverging conditions either place Brent above value or WTI below value on a relative basis. Was this week's selling market specific to WTI or a foreshadow of more downside ahead?... |
- NFP. (Zerohedge)
- Job Creation Under POTUS. (Bespoke)
- Commodity Prices Since Peaks. (Reuters/Catherine Trevethan)
- QE3 Priced In? Comparison of QE1 v QE2 v QE3. (Zerohedge)
- FOMC Minutes Reveal Nothing New. (Zerohedge)
- Weekly Fund Flows: Emerging Mkt & Hard Currency Bonds Inflows. (FT Beyond BRICs)
- As Rial Plunges, Congress Looks To Expand Iran Sanctions. (Reuters)
- Hyperinflation: Iran's Way Out? (Telegraph)
- IMF: Global Recovery Will Take Six More Years. (Telegraph)
- Big Energy Schemes Need Multilateral Finance. (FT Beyond BRICs)
- Is Position Limits Fight Over? (Platts)