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Prices for U.S. benchmark crude have jumped 20%-plus since June, but crude prices in the rest of...

Prices for U.S. benchmark crude have jumped 20%-plus since June, but crude prices in the rest of the world have climbed even more. Thanks to the rally in Brent crude relative to WTI, the spread between the two is now back above $20 and at its highest level YTD. Since gasoline prices tend to be more closely correlated with Brent prices, the widening spread means more pain at the pump.
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Comments (3)
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    The expectation of plenty of global currency devaluation (even if it is competitive beggar-thy-neighbor)..... add in the heat that has ratcheted up recently on Iran/Syria
    16 Aug 2012, 02:48 PM Reply Like
  • bbro
    , contributor
    Comments (10313) | Send Message
     
    Look at gasoline futures and add 80 cents...
    16 Aug 2012, 05:13 PM Reply Like
  • untrusting investor
    , contributor
    Comments (9973) | Send Message
     
    Looks like the oil producers and cartels know exactly how to deal with massively money printing central banks all over the world. They have a real resource and are not about to let the central bankers devalue away their real resource. Checkmate central bankers.
    16 Aug 2012, 07:05 PM Reply Like
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