U.S. Influence On Global Oil Prices Is Growing ...Middle East

Earlier this month, the number of oil swaps linked to oil produced in Texas hit a record. To date, the number of such swaps in total also sits at a record. Later this year, the Wall Street Journal reports, a Texas oil grade will be added to the Brent complex of crude contracts. U.S. oil is going places.  During the first shale revolution, there was probably hardly much thought about becoming an exporter of crude. The point at the time was to boost self-sufficiency and, really, see just how much oil one could get out of those shale rocks in…

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