As usual, we start with this past week’s data. After undergoing a considerable run up at the close of the previous week that extended into Monday of this week with next month WTI approaching $50 and Brent nearing $55 , trading the remainder of the week drifted downward to close in the mid-$40’s for WTI and short of $50 for Brent.
Here is the chart reflecting the closing prices this past Friday (an explanation of the source of the data is here) : Continue reading

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