Brent-WTI spread broken: analyst
Brent-WTI spread causes concerns about oil benchmarks to resurface; Ice and Nymex defend use for futures contracts
The increased spread between the two main crude oil benchmarks has prompted a repeat of criticisms about the use of West Texas Intermediate (WTI) and Brent crude as global oil price markers.
The spread has hit a record high over the past week, as the price of Brent crude passed $100 per barrel – a peak not seen since September 2008 – while WTI remained around or below $90 per barrel. Traditionally, WTI trades at a premium to Brent but the relationship has reversed before, for example, the
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