Brent crude respected its declining trendline and is likely to re-test support at $104. Failure would warn of a correction to the long-term, rising trendline at 95*.
* Target calculation: 105 – ( 115 – 105 ) = 95
3 Replies to “Brent Nymex WTI Crude”
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hi colin,
How can the price of Brent and WTI be so different?
surely the delivery between the two hubs set the maximum difference and surely that must be <$20 barrel?
They are different qualities of crude. European refineries are geared to Brent crude and there is a temporary supply shortage of suitable substitutes because of problems in Libya and Nigeria.
See Wiki – Brent Crude
Hi Colin,
Where are you?
Looking forward to your guidance!
Kind regards,
John