U.S. and Brent crude part ways, leaving market flummoxed over oil prices

U.S. and Brent crude part ways, leaving market flummoxed over oil pricesBy Amanda Cooper and Ayenat Mersie NEW YORK/LONDON (Reuters) – Global oil markets have been roiled by a surprising divergence between the world’s major benchmarks, Brent crude and its U.S. counterpart, which in recent days have traded at odds with one another, wrongfooting investors betting on the exact opposite. Graphic – Brent soars, others lag: https://reut.rs/2JmAsvJ Traders worldwide have been struggling to make sense of where oil prices are headed, juggling countervailing signals from major producers Saudi Arabia and Russia on the path for future OPEC supply, against renewed U.S. sanctions on Iran and Venezuela’s ongoing economic crisis.


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