Crude oil prices are holding to the upper reaches of the week’s price action, a consequence of a surprisingly strong euro exerting downward pressure on the dollar and the Iran situation adding geopolitical risk to the equation. However, a tightening of the Brent/WTI spread is probably indicative of an assessment supply disruption associated with an embargo of Iranian crude is likely to be little more than a logistics exercise.
Energy Overview — TotalView™ of the Energy Markets