The the Financial Times (via FastFT) have a nice piece up just now on the narrowing spread between brent and WTI oil prices. FastFT is a subscription service (and well worth it), gated, but, in brief:
Stuart Kirk, managing director at Deutsche Bank, said:
- “A riveting side story to the slump in oil prices this year is that Brent is down 50 per cent more than WTI,”
Fadel Gheit, an energy analyst with Oppenheimer, said:
- The narrowing of the crude differential indicates a sharper drop in Brent on oversupply by OPEC and others, coupled with lower than expected demand on slower economic growth in China and slower recovery in Europe.
