Brent - WTI Drops to Lowest Levels Since January
Tuesday, December 27, 2011 at 01:51PM While largely out of the headlines in recent weeks, the continued collapse in the Brent-WTI spread could be one of the biggest stories of the last three months. If it wasn't for the $20+ drop in the spread between Brent North Sea and WTI crude oil prices, US consumers would likely be staring at $5 per gallon gas. If that was the case, rather than being a lone bright spot in the global economic landscape, the US economy would be in the same boat as everyone else.
Back in September, the Brent-WTI spread was widening out to record highs and if someone told you then that by the end of the year it would be right back near levels it was at when the year started, you would have laughed. However, with just three full trading days left in the year, the Brent-WTI spread is now at its lowest level since January 20th!
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