BNO Brent Oil Versus USO Crude Oil Daily Chart Historic Spread Levels

The spread between crude and Brent are reaching historic levels. At this writing, Brent is 118.54 (9-month high) and crude is 96.37, a spread of 22.17. Typically, the entity that is deviating farthest from the centerline will correct back the most, however, there are geopolitical politics occurring as a wild card and driving force behind the Brent move. The tragedy in Syria is spilling over into neighboring nations and creating uneasiness and turmoil in the oil markets. Thus, Brent may end up going higher if the Middle East falls apart. The weak global economy should want to drag crude oil lower, as well as Brent, but the Northern Africa and Middle East turmoil wants to pull oil higher. It is amazing to see equities markets, in general, ignore world problems and simply focus on the Fed's printing press, drinking wine like water. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.

Note Added 2/8/13 at 2:32 PM:  Crude at 95.45 (lower than this morning) and Brent oil at a lofty 118.71 (higher than this morning) right now is a spread of 23.26.

Note Added 2/9/13 at 11:00 AM:  Crude finished at 95.72 and Brent at 118.90 for a spread of 23.18.