With Brent Crude oil driving higher on Wednesday — up nearly $1 and trading at $67.59 in early afternoon New York trading – Morgan Stanley analysts Martijn Rats and Amy Sergeant point out that European refining margins have weakened recently. This is creating a negative correlation, where refining stocks head lower as the underlying product, Brent crude, moves higher. [timeless] Brent crude: Watch for trading range with $70 high With the primary pipeline distributing Brent crude just recently opened and the futures contract in backwardation – the front month is trading higher than the back month — Francisco Blanch,…
The Bulls Return: Brent Crude Could Hit $70, Says Morgan Stanley
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.