Economic news

Brent and WTI move in opposite directions befuddling markets

World oil markets are baffled by an unexpected contradiction in the movement of the two chief benchmarks, as Brent and WTI have traded oppositely in the last few days.

Around the globe traders have tried to figure out the direction prices lean towards, weighing various factors, starting from the continuation of OPEC initiative to sanctions against Iran and Venezuelan crisis.

OPEC was though to expand supply in connection with lessening exports from Iran because of sanctions, however, awaited coordination between Brent and WTI hasn’t happened but rather the opposite has.

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