Oil prices fluctuated greatly, yesterday, first catching the risk-off fever generated by the Cyprus bank deposit tithe plan. Price recovered, as word came down that there was flexibility in the bailout plan. The featured trade was a further narrowing of the Brent-WTI spread. While the Cyprus situation has greater implications for the world banking system and sacredness of deposits, the situation, for now, is contained.
Energy Overview — TotalView™ of the Energy Markets