WTI and BRENT Crude Diverge
The Week In Hindsight, 14 December 2013
WTI reclaimed ground lost throughout November this week as demand from US refineries increased and stock piles approached depletion. Futures contracts in the benchmark broke above $98 per barrel toward the middle of the week before undergoing a moderate correction.
This lead Brent Crude to cross with WTI to the upside for the first time in four weeks as Brent sold off in anticipation of Libyan producers coming back to the market and easing supply concerns following months of port closures due to strikes and protests in the North African country.
SPOT GOLD WTI (WEST TEXAS INTERMEDIATE) AND BRENT CRUDE
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