Obsidian Energy Ltd T.OBE

WTI vs Brent Spread...

[kavern23]

Wow...is it incredibly interesting how for the first time in a long time...since mid day last week the WTI vs Brent spread has moved from WTI being 2.50-3 dollars a barrel lower then Brent to 20 cents....

In theory the weekly USA inventory reports should start showing oil builds as it is not economic to export as much oil from USA.  It costs way more then 20 cents a barrel to ship oil.....

Wild times.....

NG was up 45 cents two hours ago...now 5-7 cents.....wowzers

[JohnJBond]

Maybe it will go back the way it used to be with WTI priced higher than Brent 

[kavern23]

WTI is 70 cents now higher then Brent...have not seen this in years.... It likely means USA refineries are starting to ramp up gas and diesel production...maybe not in tomorrow report...but by next wednesday....gas and disel production should be higher....

[kavern23]

Flipped today and WTI was at a slight discount to Brent by end of afternoon..... Totally means that USA oil production increasing from 11.8 to 11.9m barrels partly drove WTI direction today. Traders will start pricing in USA production growth if the weekly reports show growth. Jason Kenny was spouting off in Washington that Canada had capacity to increase exports by of pipeline by 300K per day