BofA Report Points to Potential Arbitrage Opportunity in Crude
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Prices of WTI and Light Louisiana Sweet grade crude are set to converge, as a surplus of crude at the U.S. storage hub in Cushing, Oklahoma, will begin to clear following the reversal of the Seaway pipeline, according to Bank of America Corp.
Rising production in Canadian and the Midwest U.S., combined with a lack of transportation out of the Cushing storage hub, have created a supply glut and low prices there.
Crude oil can be traded through ETF Teucrium WTI Crude Oil (NYSE: CRUD) and United States Oil (NYSE: USO).
Rising production in Canadian and the Midwest U.S., combined with a lack of transportation out of the Cushing storage hub, have created a supply glut and low prices there.
Crude oil can be traded through ETF Teucrium WTI Crude Oil (NYSE: CRUD) and United States Oil (NYSE: USO).
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