With the deadly terror attack in Algeria putting a newfound focus on threats to energy supplies, crude oil prices are expected to move higher.
There is speculation that futures contracts for the U.S. benchmark oil contract, West Texas Intermediate or WTI, could top $100 per barrel. WTI closed last week at $95.96, and the front-month contract was trading at $95.69 Tuesday.
Brent crude, which trades at a premium to WTI, set a new record in 2012 and is trading above $112 per barrel.And the spread between WTI and Brent may be narrowing.
And WTI and Bakken is practically at parity at Clearbrook, MN.