Why Brent and WTI Crude Price Movements Are Diverging Today ...Middle East

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Why Brent and WTI Crude Price Movements Are Diverging Today
source : OILPRICE ( Middle East ) () 86
Oil markets traded in an unusual pattern in Tuesday’s early morning session, with Brent crude prices rising while WTI crude fell, a shift from their usual lockstep movements.  Brent crude for July delivery gained 3.16% to trade at $99.18 per barrel at 9:00 am ET on Tuesday… With the comparable WTI crude contract falling 4.09% to change hands at $92.65/bbl a day after U.S. strikes in Iran clouded an expected peace deal.  Brent tends to react more strongly to Middle East shipping risk because it is tied more closely to seaborne…

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