| It isn’t just the sharp drop in crude prices since last summer that has roiled the global oil industry. It is the way they have fallen. During the slump, U.S. oil prices have dropped further relative to Brent prices traded on London’s Intercontinental Exchange.
That has made it increasingly attractive for crude buyers in Asia to purchase oil from places such as Latin America, where producers set selling prices in line with the U.S.’s main West Texas Intermediate benchmark, instead of traditional providers in the Middle East that price off Brent...............................................Full Article: Source
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