Brent/WTI & Libya

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

  1. atrocious

    atrocious

    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.
     
    #1     Feb 21, 2011
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  2. Joman

    Joman

    This is the second largest oil producer in Africa after Nigeria.
     
    #2     Feb 21, 2011
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  3. bone

    bone

    April Nymex WTI vs. April ICE Brent:

    [​IMG]

    Nymex WTI April-May Calendar Spread:

    [​IMG]
     
    #3     Feb 21, 2011
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  4. mizhael

    mizhael

    but those are exported mainly to Europe... why did impact WTI more than Brent?
     
    #4     Feb 22, 2011
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  5. bone

    bone

    Almost certainly a reflection of the recent spec short interest built up in WTI.
     
    #5     Feb 22, 2011
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  6. Daxspreader

    Daxspreader

    WTI-Brent spread back at -13.30.

    Moved a dollar down in the closing hour........
     
    #6     Feb 23, 2011
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