- Oil prices are up 10% so far this year, and some forecasters are singing an even more bullish tune
- Morgan Stanley joined Goldman Sachs in forecasting $100 oil later this year
- Earlier this week, the Paris-based IEA made more bullish revisions to its 2022 outlook
- At least one Wall Street firm isn’t so optimistic, Citigroup cautioned that sticking to a bullish view could be dangerous after this quarter
- Bakken crude prices have risen to the highest premium over WTI in four years as cold weather disrupted Canadian production (BBG)
- Bakken Clearbrook traded at a $3.225/Bbl premium to U.S. oil futures, the largest premium since October 2017
- Disruptions to Canadian crude have oil buyers seeking supply elsewhere. The extreme cold also caused curtailments in North Dakota but not to the extent it caused slowdowns in output from Alberta
- Synthetic crude in Canada traded at a 35c/Bbl premium above WTI futures, the biggest premium in over a year