For the first time since QE2 was announced (August 2010), the price of WTI Crude oil is now more expensive that Brent crude. The Brent-WTI spread has collapsed from over $23 in Feb 2013 and is now negative and notably below the long-run average level of around $0.98. At $109, WTI is the highest since March 2012. Gas prices - at the pump - continue to rise significantly reaching the highest since March, but given the lag to production, are set to reach well over $4.00 per gallon on average.
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The round-trip from QE2...
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Charts: Bloomberg