I was just having a look at the oil market and came across something interesting.
Nymex Crude Future 38.74Now I have been following this market intermittently for the last few months and as I recall there was at most a few dollars difference between the different prices. And yet here we are with WTI priced way below the other two listings. There is something strange going on. Any oil guys care to explain? Or is the new bottom for oil going to be around $30 a bbl?
Dated Brent Spot 37.43
WTI Cushing Spot 30.52
Maybe it will resolve itself by the end of the day. Or not.
Cross Posted at Classical Values