Due to its 'lightness' and 'sweetness', WTI crude is normally selling at about $1-$2/ barrel premium to Brent. Brent is actually a blend of crude oil from 15 different oil fields the North Sea.
The geopolitical situation in the Middle East gets tenser, and the Federal Reserve (Fed) doves get worried with the sight of better-than-expected jolts and ADP report announced earlier in the week.
It was not until Thursday, when President Joe Biden left open the door to Israel striking Iran’s oil reserves that markets reacted more strongly. Crude climbed nearly 5% to $73.50 a barrel ...
U.S. crude, known as West Texas Intermediate, or WTI, is up 4.3% to $73.18 a barrel in recent trading. Trading in call options tied to the $1.4 billion U.S. Oil Fund surged to the highest level in ...
while WTI futures peaked at $73.97 per barrel, both hitting one-month highs. Market fears are rising over the possibility that Israel might target Iranian oil infrastructure, which could provoke ...