[SAJ]

The spread between WTI and Brent is historically wide, too. As thackney very accurately points out, once crude goes into Cushing, it loses some marginal utility because it cannot be easily put into the int'l mkt from there.

When you see them starting to truck Cushing crude to Tulsa and subsequently barge it to the Gulf, you'll know the spread(s) will be narrowing substantially in short order.

[expat_panama]

It’s really a pleasure beginning a beautiful Monday morning with a great cup of coffee, personal income & spending up, and getting input from people who know what their talking about.

Thanks!