Is This The Longest Stretch ...

... that we've seen oil over $100/bbl in quite some months?

For newbies: WTI should stay over $100/bbl for quite some time.

For decades, WTI and Brent were near parity, but for newbies it seems that WTI has always been $20 - $40 less than Brent. That disparity was due to a glut of North American oil at Cushing.

Now that pipelines have been reversed, pipelines added, and, rail capacity has surged, the gluts/choke points are now relieved, and WTI oil is reaching parity with Brent. And Bakken oil is nearing parity with WTI oil. Scroll down the linked article and note the WTI-Brent spread over the past year.

We can start watching OPEC production more closely, giving us a better indication of future Bakken oil prices.