Return Of #Libya Oil Seen Normalizing Brent-WTI Gap: The resumption of #Libya 's oil production should mean the end...dlvr.it/nKCxW
Return Of Libya Oil Seen Normalizing
Brent-WTI Gap
Tuesday, September 27, 2011
The resumption of Libya 's oil production should mean the end to record price spreads between Brent and WTI oil prices, says Bank of America Merrill Lynch's Tom Petrie. " Libya is the biggest factor, and the recovery of Libya will start to bring us back together," the veteran energy analysts says of the spread during an energy-conference presentation. "I think we'll see this as a peak in the relationship."
The Brent-WTI spread was recently at $23.03/barrel, down 67c. Amid broad gains in many asset classes, Nymex WTI futures were recently up 3.3% at $82.90.
