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Author Topic: Price difference between Brent and WTI crude oil narrowing Back to Topics
DoctorV

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Detroit

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Message Posted: Jun 28, 2013 9:47:20 AM

The difference between the prices of North Sea Brent and West Texas Intermediate crude oils has narrowed considerably over the past several months, the Energy Information Administration said in a report posted online this morning.

The spread, which was more than $23 bbl in mid-February, fell to under $9 bbl in April, and has ranged between $6 bbl and $10 bbl since then.

The narrowing of the spread is supported by several factors. Brent prices have declined because Brent-quality crude imports into North America have been displaced by increased U.S. light sweet crude production, reducing Brent-quality crude demand. In addition, WTI prices, have risen because the infrastructure limitations that had lowered WTI prices are lessening.

Before 2011, Brent and WTI crude oil prices tracked closel
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Tekkersmom57
Champion Author Syracuse

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Message Posted: Jun 28, 2013 11:27:45 PM

Oil should be no where near the price it is now. Brent is just closing in because it too was WAY too high!
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underbird10
Sophomore Author Atlanta

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Message Posted: Jun 28, 2013 9:52:14 PM

Funny, they were telling us just a few months ago that our prices were higher because our benchmark was no longer WTI but Brent because of the world market. However, now that the Brent premium has dropped by $15/barrel, they are no longer using that excuse because it should have resulted in 15-20 percent lower fuel prices. Instead, we're still on pace for record prices in 2013. Lies, lies and more lies... it just never ends.
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bwatchingu
Champion Author Arkansas

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Message Posted: Jun 28, 2013 2:29:59 PM

Prices too high
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JagXKR
Champion Author British Columbia

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Message Posted: Jun 28, 2013 1:13:50 PM

Brent and WTI are both way too high.
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humblepie
Champion Author Toledo

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Message Posted: Jun 28, 2013 11:59:29 AM

it would be a lot better if they both where back around $40 a barrel
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russiam
All-Star Author Cincinnati

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Message Posted: Jun 28, 2013 10:13:40 AM

Oh
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rjojo40
Champion Author Las Vegas

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Message Posted: Jun 28, 2013 10:13:25 AM

well it's not showing up on the radar.
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sarasotasingle
Champion Author Sarasota

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Message Posted: Jun 28, 2013 10:11:18 AM

This is my thought today...When the American people stand up and demand A source of affordable oil you will see oil prices slip.American oil development is expensive if you feel A few thousand US oil jobs are worth $4.oo+gal gas then stop complaining about the price.I belive low gas prices(if they stay low no more than $2.00gal)will promote TRUE job creation-in the millions of jobs.Drop all taxes on gas immediately,lets have A vote to buy out speculators(gasoline is much too necessary for this much fluctuation)Ill pay A thousand dollars today for that.Lets have oil companies guarantee A price for the year say $2.50gal to $2.75gal and if it goes higher prove why-is that to much to ask?We have the buying power of hundreds of millions of people.This is A world market why do we have no say at all?
If you agree Buddy me !
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mastermariner
Champion Author Texas

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Message Posted: Jun 28, 2013 9:51:28 AM

OK
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investmentdr
Champion Author Cleveland

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Message Posted: Jun 28, 2013 9:49:13 AM

good news for east coast, not midwest
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