Olduvaiblog: Musings on the coming collapse

Home » Economic » WTI Crude Plunges To 7-Month Low (But Don’t Get Too Excited) | Zero Hedge

WTI Crude Plunges To 7-Month Low (But Don’t Get Too Excited) | Zero Hedge


WTI Crude Plunges To 7-Month Low (But Don’t Get Too Excited) | Zero Hedge.

At $91.70, front-month WTI crude prices have dropped to a fresh 7-month-low this morning. The mainstream media is already crowing of what this means for gas prices and how that will be an implicit “tax-cut” – even though gas prices remain at or near record-high levels for this time of year. The issue with this thinking, of course, is Brent crude (which more closely correlates to US gasoline prices) remains stubbornly high at around $107 as the spread between WTI and Brent surges over $15.

 

 

Chart: Bloomberg


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Enter your email address to follow this blog and receive notifications of new posts by email.

Join 313 other followers

  • 70,283

Top Clicks

  • None

Archives