Long-term crude prices enter new territory

摘要

WTI's rise above 100/bl this month shows greater signs of leading to a sustainable price increase than a similar move in early January. Every WTI and Brent futures contract out to 2015-16 settled at a record of above 92/bl on 20 February, when front-month WTI traded at an all-time high of 101.32/bl. Forward oil values rose by nearly 6/bl in two weeks during the rally (see graph).