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US crude trades sharply below Brent

Posted on 19 January 2009

From Gulf-news.com: US crude oil could trade sharply below London Brent for months to come as a dramatic slowdown in energy demand in the world’s largest consumer nation causes inventories to swell.

West Texas Intermediate (WTI) changed hands on the New York Mercantile Exchange Thursday for as much as $10.40 (Dh38.2) a barrel less than Brent, a record discount that is particularly unusual because WTI is a lighter, sweeter grade that is easier to process into products like gasoline….. Full Article: Source


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