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Commodities Briefing - Categorized | Oil, Price Watch more

What is going on with oil prices?

Posted on 18 December 2013

After dipping sharply in early November, crude oil prices rallied through the rest of the month, regaining all of the previously lost ground. The price of Kuwait Export Crude (KEC) rose from a low of $101 per barrel (pb) in early November to $107 a month later, $3 above its November average.
Brent crude prices also rose from a low of $103 in early November to $114 – well above the trading range for most of the year. The price of West Texas Intermediate (WTI) – the main US crude benchmark – once again bucked the trend, failing to see any sort of bounce until the first few days of December. At a price of $92 WTI’s discount to Brent reached $20 in late November, its highest since March………………………………………..Full Article: Source


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