WTI is no longer relevant. Minas and Tapis benchmarks both over $50. US benchmark crudes have decoupled from the rest of the world and Asian crudes are trading at a 40% premium to WTI.
The Nido SP followed the POO down step for step. If the market recognises the higher price they will get selling their crude in Asia the SP should follow.
This is a boost for Nido once Galoc starts producing again.
Regards,
OPT
i smell a rally coming on, page-11
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