The growing influence of Caspian crude

The growing importance of Caspian crude could bring about a similar dislocation of Urals/Brent as the recent dislocation in the Brent/WTI spread, argues Bruce Gaston

It would be easy to conclude that the financial, economic and energy market shocks of the past four years arrived suddenly, with little prior evidence. However, like many dramatic changes, they are almost always the inevitable shift in key benchmarks subject to years of marginal pressure. For a successful energy risk manager and trader, these marginally driven seismic shifts are profitable to predict and essential to hedge or insure against.

A full version of this article is available in PDF