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Why are WTI and Brent Prices so Different?
We have all heard at least a partial explanation as to why West Texas Intermediate (WTI) and Brent prices are so far apart. We have been told that the Midwest is oversupplied because of all of the...
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Pipeline changes to fix WTI/Brent spread are likely to add new problems
For many years, Brent oil (a European grade) and West Texas Intermediate (WTI) oil, a US grade, sold at close to the same price. Starting in January 2011, WTI price dropped below Brent, at times by...
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Why High Oil Prices Are Now Affecting Europe More Than the US
The world is presently sharing a limited supply of oil. When oil prices rise, oil production doesn’t rise very much, if at all. Figure 1. Brent oil spot price and world oil supply (broadly defined),...
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