The mysterious price of oil

Divergent benchmarks have kept traders guessing as to the true price of a barrel of oil.

The mysterious price of oil

The oil industry’s two main pricing benchmarks Brent and West Texas Intermediate WTI have never been further apart than they are these days.

At the time of writing, Brent crude was quoted on ICE at around $107 a barrel, while WTI was closer to $91. At its widest, the price disparity touched $23, which is causing havoc for hedgers such as airlines.

The cause of the disparity depends on who you ask,...

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