The resumption of
Libya
's oil
production should mean the end to record price spreads between Brent and WTI
oil prices, says Bank of America Merrill Lynch's Tom Petrie.
"
Libya
is
the biggest factor, and the recovery of
Libya
will
start to bring us back together," the veteran energy analysts says of the
spread during an energy-conference presentation. "I think we'll see this
as a peak in the relationship."
The Brent-WTI spread was recently at
$23.03/barrel, down 67c. Amid broad gains in many asset classes, Nymex WTI
futures were recently up 3.3% at $82.90.