Monday, September 12, 2011
The chart shows prices for Brent and WTI since the beginning of 2009. Data are from the EIA except for today's which are from news stories.
The Brent-WTI spread has really been widening to enormous levels.
On the whole, the momentum seems to have been with the oil bears lately. Hard to see how this changes in a big way as long as the economic readings coming out of the US and Europe continue to be so weak. And at least in Europe it seems like it must have to get worse before it can get better.