The oil pricing landscape is facing critical changes as regional activities surrounding established benchmarks are impacting markets on a global scale. Asia’s lower-than-anticipated appetite for crude oil, coupled with the misconception that all production will be dominated by the Middle East, suggests a potential re-emergence of West Texas Intermediate (WTI) as the international price reference.1 […]
NYMEX crude financial contracts for the West Texas Intermediate (WTI) exceeded the Intercontinental Exchange’s (ICE) Brent Crude for the first time in three years on Friday by 3 cents. At the time of writing, WTI was reasserting its benchmark dominance as the spread between it and Brent disappeared. Limited pipeline access has been the main […]