Just in Time for Summer Driving Season: Brent - WTI Spread On the Rise

After finishing off 2011 down by 70% from its high of the year, the spread between the price of Brent and WTI crude oil is back on the rise in 2012.  After starting off the year at $8.55, the spread between the prices of a barrel of Brent and WTI is now up to $17.55.  Although this is down from last week's high of $19.54, at current levels the Brent-WTI spread is now up 105% on the year.  Given the fact that gas prices are closely tracked to the price of Brent Crude oil, the rising spread between the two benchmarks is all the more painful due to the fact that it is coming right ahead of the Summer driving season.

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