> (email exchange)
> On Wed, Jul 10, 2013 at 7:42 AM, Michael wrote:
> Your Brent-WTI convergence call at the opening of the Seaway pipeline was one of the
> best calls I ever saw you make. The timing was beautiful. I never even heard one
> industry person make that call either. The spread is down to practically nothing now.
Yes, thanks, just before its capacity doubled around year end, if I recall correctly.
I also saw it as a risk, as it would mean WTI up over 100 and gasoline up some, although it was largely priced off of brent. It’s also good for the producers but bad for the refiners who had access to the WTI.