WTI Brent crude oil arb

The arbs peaked last Friday as we suggested it might in our Linkedin post of Friday 3/31 --- now the arb relationships look to have established trading ranges ---the arbs fell back down from the highs seen last Friday, we believe much due to the OPEC+ cuts that will affect Europe more than the US.

We now await 2 news items that may have an effect on the arb relationships--firstly, the Saudi OSP's and their effect on regional pricing and secondly, US and Russian crude export data to give us a sense of how much crude is flowing where