(Bloomberg) -- West Texas Intermediate may maintain
or widen its discount to Brent oil until 2009 because of
pipeline bottlenecks in Cushing, Oklahoma, where the crude is
delivered, Sanford C. Bernstein & Co. said.
WTI, the grade for futures trading in New York, has been at
a discount to Brent since February and the spread reached a
record $6.54 a barrel on May 24. WTI has lagged behind because
U.S. refinery outages cut demand and there aren't the pipeline
links to export the crude to other regions, Bernstein said.
Read more at Bloomberg Energy News
or widen its discount to Brent oil until 2009 because of
pipeline bottlenecks in Cushing, Oklahoma, where the crude is
delivered, Sanford C. Bernstein & Co. said.
WTI, the grade for futures trading in New York, has been at
a discount to Brent since February and the spread reached a
record $6.54 a barrel on May 24. WTI has lagged behind because
U.S. refinery outages cut demand and there aren't the pipeline
links to export the crude to other regions, Bernstein said.
Read more at Bloomberg Energy News
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