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W&T Offshore Inc. Message Board

  • justasklee justasklee Jun 18, 2014 2:23 PM Flag

    Mike Paulenoff's Mid-Day Minute

    Brent-WTI Price Differential Widens as Iraqi Conflict Intensifies - Today's chart shows the spread (differential) between Brent North Sea Oil and NYMEX Crude Oil.

    In July 2013, Brent plunged to nearly par (zero premium) to NYMEX, but then recovered in a big way to lead the spread back to a Brent premium of $19.29 in Nov. 2013.

    Since then, the spread has contracted again, with Brent losing ground to WTI into the very narrow April-June Brent premium spreads of $3.34 and $5.29.

    However, during the past week, with the advent of escalating tensions and military confrontations in Iraq, the premium of Brent to WTI has widened to $8.00.

    Judging from my daily momentum gauge of the spread, the premium of Brent Oil (BNO) to W&T Offshore Inc. (WTI) is poised to move considerably higher above resistance at the 200-day EMA, now at $8.50, on the way to $14.00-$15.00 next.

    Last in BRENT: $113.90... WTI: $ 105.55

9.19-0.62(-6.32%)Nov 26 4:05 PMEST

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