The narrowing of the spread between the ICE Brent futures and NYMEX light sweet contract, known as Brent/WTI spread, was a notable change in the quarter.
Toward the end of June, the ICE Brent front-month futures contract narrowed its premium to front-month NYMEX crude to below $6/barrel, more than halving from the beginning of the quarter. (A trend which of course has continued, with the spread tumbling below $5/b and even $4/b in just the first three days of July.)
Here's a short video in which John Carter shows how he trades oil and how he identifies targets when to take profit.
