Middle East Economic Survey
With Brent Prices Above WTI, Gulf Producers Consider Commercial Impact
Not only is the oil market experiencing a steep contango, but during the last two months, the spread between WTI and Brent crude has widened, with Brent at a premium. This unusual situation has occurred on previous occasions, but rarely to the degree that has been seen in recent weeks. The fact that WTI is trading lower than Brent has to do with slumping demand in...