Renewed scrutiny for WTI benchmark
The effectiveness of the WTI price benchmark in reflecting the value of global crude oil has once again been brought into question, finds Pauline McCallion
Increasing stocks at West Texas Intermediate's (WTI's) physical delivery point at Cushing, Oklahoma have caused the price of the light sweet crude oil to disconnect from other global benchmarks like Brent, prompting analysts to question the role of the WTI gauge.
WTI usually trades at a premium of between $1 and $2 over Brent Crude. However, in recent weeks it has dropped to a discount of as much as $8 - $36.51 compared to a $44.54 price for Brent on January 16, 2009. According to the US Energy
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