WTI-Brent crude oil price spread has reached unseen levels
In recent months, the spot price of West Texas Intermediate (WTI) crude oil has fallen well below that of North Sea Brent and other crude oils. Similar differences have occurred for brief periods in the past (for example, May 2007 and February 2009 on the graph), but the current widening of the WTI price discount to Brent and U.S. coastal grades is unusual in its scope and duration.
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