| The fascinating aspect of the energy industry is how what may seem like a small event can have such a large impact on companies. Today, there's one small trend that resulted in Exxonmobilhaving a tragic quarter, while others like Devon Energy crushed earnings estimates: the Brent-WTI spread. Let's take a look at what the spread means, and who wins and loses as the spread narrows, as it has done in recent months.
Contrary to what many may think, oil is not a universal product. Granted, the price for oil is much more global than its hydrocarbon counterpart natural gas, but there are some regional discrepancies in the price of oil. In the U.S., the two most important oil price benchmarks are the foreign Brent, and the domestic West Texas Intermediate -- also known as WTI...............................................Full Article: Source
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