JPMorgan favors Brent Dec.-Dec. spread as stockpiles shrink OPEC, non-OPEC supply curbs compete with record shale output Oil traders are going to have their work cut out in 2018. OPEC and its allies are heading into the second year of supply cuts to wipe out the global oil glut, while rising U.S. output is threatening those efforts. Geopolitical tensions also add a wild card to the market mix. As oil watchers seek to plot a course through the year ahead, they’ll be paying close attention to signals ranging from timespreads to options contracts. Here are five key barometers to watch as 2018 unfolds: 1. The Shale Signal WTI’s discount to Brent closed at its widest level in more than two years on Tuesday as an explosion at an oil pipeline in Libya boosted the global benchmark. That came after Hurricane Harvey kept supplies locked in the U.S. earlier in […]