September 24, 2021 – ForexLive
Brent threatens to take out the June high
By: Adam Button
Talk of gas-to-oil switching in power plants is helping brent to widen the spread to WTI. So is the improvement in European growth. Historically, a $7-8 spread isn't unusual owing to more-abundant North American supplies.
RBN Energy has a good report on the lack of capital spending in oil.
“Oil and gas producers are spending just $0.27 in 2021 for every $1.00 in investment they made in 2014, when oil was $100/bbl, and $0.58 for every $1.00 in investment in 2018, when the oil price was comparable to today's.”
Read the full article here: https://www.forexlive.com/news/!/brent-crude-prices-near-the-highest-since-2018-20210924
