Lost In Translation -- June 18, 2015

Compare the story at Bakken.com and the story is covers at The Street.

A screen shot of the last paragraph of the Bakken.com story:

Compare that with what The Street said (correctly), a screen shot:

Bottom line: WTI and Bakken crude are near parity for a number of reasons. This is one of two data points that will be interesting to note in the Director's Cut to be released tomorrow: price for Bakken crude oil in April, 2015.  

By the way, for newbies, how does $45 to $60 translate into almost $30?

When WTI was at $45 some months ago, the spread between WTI and Bakken was much worse, close to $15. In other words when WTI was $45 some months ago, Bakken was being sold for $30 (see January, 2015, below, for example).

Now, WTI and Bakken are near parity at $60. And that's the $30 increase seen for Bakken oil. 

Here is Bakken pricing as reported in the Director's Cut over the six months or so:

• May 13, 2015: $46.00
• One month ago, 2015: $36.25 (lowest since February, 2009, and January, 2015) (all-time high was $136.29 7/3/2008)
• April, 2015: $38.33
• March, 2015: $31.47
• February, 2015: $34.11
• January, 2015: $31.41
• December, 2014: $40.74
• November, 2014: $60.61
• October, 2014: $68.94
• Sept, 2014: $74.85
• August, 2014: $78.46