Brent/WTI spread an incentive for US oil exports… WSJ

September 21, 2017 by Jim Colburn Leave a Comment

Alison Sider and Lynn Cook at the Wall Street Journal discuss the widening Brent/WTI crude oil price spread here…

“A difference of at least $4 makes it attractive for a refiner in countries like China or South Korea to buy oil from shale producers in Texas and North Dakota, said R.T. Dukes, an oil expert with consulting firm Wood Mackenzie.

“Get to a $4 spread and you can take it anywhere in the world,” he said.”

The spread moved above $6 and is now at $5.88… Here is the chart:

Do read the whole thing: https://www.wsj.com/articles/lower-u-s-oil-prices-are-a-shot-in-the-arm-for-crude-exports-1505986208?tesla=y

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