To: rodguy911
You are right... Brent is primarily refined in Northwest Europe. Typical price difference per barrel is about $1 less than WTI, and $1 more than OPEC Basket. However, in 2007 Brent Crude futures have been trading at a premium to WTI of approximately $1 to $3 (NOT $9 to $10) per barrel. The depletion of the North Sea oil fields is one explanation for the divergence in prices.
9 posted on
02/12/2009 9:08:59 AM PST by
TLI
( ITINERIS IMPENDEO VALHALLA)
To: TLI
Gotcha thanks, I was always wondered about that,aren't they having any new finds/discoveries up there? Quite a discrepancy right now.
13 posted on
02/12/2009 9:11:32 AM PST by
rodguy911
(HOME OF THE FREE BECAUSE OF THE BRAVE--GO SARAHCUDA !!)
To: TLI
Which is best oil price to pay attention too? WTI? Thanks
18 posted on
02/12/2009 9:12:22 AM PST by
dennisw
(Archimedes--- Give me a place to stand, and I will move the Earth)
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