Brent WPI Spread is the difference in Brent Crude OIl Spot Price and WTI Crude Oil Spot Price. Brent Oil comes from the North Sea and is the major pricing benchmark for Atlantic basin oil. WTI comes from Texas and is the major pricing benchmark for oil from the Americas.
Gasoline Crack Spread
While Brent and WTI price generally track one another, divergences often reflect technical, supply/demand or geopolitical issues. In 2015, a surge in production in US shale oil led to constrained pipeline capacity which limited the ability to move the oil to the coast for export. This caused a fall in WTI price relative to Brent and thus a surge in Brent WTI Spread.Brent WTI Spread is at a current level of 6.88, a decrease of 0.27 or 3.78% from the previous market day. This is a decrease of 0.36 or 4.97% from last year and is higher than the long term average of 1.175.
Oil Price Crack Spread 2017
When there is the opportunity and the time is right to make money, most people will jump at it. Understanding that simple bit of human psychology may be a key determinant of the probable future path of crude oil (WTI) pricing.Refinery runs or the degree of operational capacity of refiners to produce product are a useful telltale.