Feb 14, 2011
| Last Updated
Brent Premium to WTI Widens to a New Record
- The two most widely used crude oil benchmarks are experiencing fundamental disturbances. The price difference between West Texas Intermediate (WTI) and Brent reached an intraday record surpassing US$16 per barrel on February 11, 2011, effectively doubling in three weeks, while the volatility in the spread is increasing.
- The current spread is justified by market fundamentals: supply factors and structural differentiators, increasing global interest in Brent as a benchmark, the relative term structures (forward curves) and Middle East[...]
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