Both Brent crude and WTI advanced nicely today.
WTI was up 3.7%, up $2.02 by the end of the day; trading at $56.20
Brent was up 3.47%, up $2.07, trading at $61.69.
I could be wrong, but that WTI-Brent spread seems very narrow.
OPEC basket is at $61.24, well below the IMF break-even for Saudi Arabia.
Saudi Aramco IPO to be launched Sunday, November 3, 2019.
Meanwhile, Saudi Arabia foreign exchange reserves, most recent data, just released, September, 2019, link here. Corroborates IMF data suggesting that $61-oil is inadequate for Saudi Arabia.
Ten-year history:
Have you written an article about the coming hearing for natural gas use? I bet with your readership and gravitas a good crowd sourced list of uses could be developed.
ReplyDeleteMy two additions first GTL recent article on Bakken blog, and also my usual suggestion of Govt incentives to draw industries that will use the natural gas.
Any thoughts.
Thank you.
My bad. I haven't done that yet. Hopefully I will find time to update that. Thank you for the reminder. No thoughts on this issue yet.
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