Weekly Market Commentary - Message From Oil Prices?
Oil prices have generally been rising since the lows in the economy and markets of early 2009. But, in recent weeks, the two most watched benchmarks for crude oil have decoupled. The price for Brent crude oil has moved sharply higher to over $100 per barrel, while the price of West Texas Intermediate (WTI) crude oil has dropped back to around $85. This unprecedented decoupling of oil prices leaves many to ponder which benchmark will prove to be right and what it means for consumers, the economy and the markets.
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