Brent/WTI & Libya

Discussion in 'Energy Futures' started by atrocious, Feb 21, 2011.

  1. Anyone know why April Brent/WTI imploded on Libya today when just two weeks ago it was widening on Egyptian tensions?

    Also a wild move in the WTI J/K calendar.
     
  2. Joman

    Joman

    This is the second largest oil producer in Africa after Nigeria.
     
  3. bone

    bone ET Sponsor

    April Nymex WTI vs. April ICE Brent:

    [​IMG]

    Nymex WTI April-May Calendar Spread:

    [​IMG]
     
  4. but those are exported mainly to Europe... why did impact WTI more than Brent?
     
  5. bone

    bone ET Sponsor

    Almost certainly a reflection of the recent spec short interest built up in WTI.
     
  6. WTI-Brent spread back at -13.30.

    Moved a dollar down in the closing hour........