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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Ed Ajootian who wrote (157150)	9/17/2011 4:03:35 PM
From: raybiese	1 Recommendation Read Replies (1) of 206135

Ed: The Libyan oil disruption caused all globally traded grades to go up in price, not just Brent. The LLS-Brent spread is still quite narrow reflecting the simple fact that LLS on the US Gulf Coast is effectively 'waterborne'. Let's just pretend for now that the reasons behind the six $8/bbl price swings (May/11-Sept/11) are "normal". WTI & LLS are comparable light sweet grades. Yet we see a growing spread between WTI & LLS starting in Dec/10 as shown in the WTI-Brent spread. Sorry but I can't find the source URLs for the graphs. For some reason, you seem to expect that mid-continent WTI crude prices should be independent of crude prices in the rest of the world. It isn't for gasoline. Please explain. Ray

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