From TradingEconomics, accessed just now:
Source: TradingEconomics.com, accessed 9/12/2023.
The Urals percent discount relative to Brent is about the same in the last observation plotted as the week of 2/27/2022.
Is Brent likely to break $100? Latest DoE EIA forecasts (September, as of today) forecast peaks at $92.7 in 2023Q4.
“Is Brent likely to break $100? Latest DoE EIA forecasts (September, as of today) forecast peaks at $92.7 in 2023Q4.”
Let’s put 2 and 2 together since neither Princeton Steve nor JohnH know how to. Now I have made no forecasts of such things even though both of these lying trolls claim I have (like neither one of them get the difference between reporting on current spot rates v. forecasts of future rates).
If one takes this forecast of Brent (92.7) and that Ural discount (16.3) … let me do this SLOWLY …. 92.7 – 16.3 = $76.4 which is only slightly higher than the current spot rate. But both Princeton Steve and Jonny boy thinks this should be greater than $100? Yea – the two dumbest trolls ever.
Yadda…yadda…yadda…the operative word here is forecasts (speculation)…and their track record is pretty bad in recent years, particularly pgl’s.
Oh I forgot – Jonny boy has a perfect forecasting record. Perfectly wrong at everything that is!
2/27/1927 is a special day to ME. GD If I’m gonna tell you guys the exact meaning now. Some old man, I don’t know why he bothered with me
Stan Getz? Whay’s up, buddy?