Welcome to the Oil Market Fundamental sample report edition of Oil Markets Daily!
Oil prices are inching higher today with Brent outperforming WTI and widening the Brent-WTI spread to $8.6/bbl. This is rather surprising since EIA just reported that US exported ~2.8 mb/d of crude last week, so normally with such higher exports, Brent-WTI spread narrows. But the strength in Brent is evident today and we think it has something to do with the gauge that oil-on-water is decelerating lower.
Oil-on-Water
Following the brief dip in the middle of January, oil-on-water is once again decelerating