U.S. Oil Exports to Europe Set for January Dip ...Middle East

Crude oil exports from the United States to Europe are set to dip next month amid a tightening spread between West Texas Intermediate and Brent, Reuters has reported, citing commodity analysts. U.S. oil exports to Europe hit an all-time high in November, at 771,000 barrels daily, but since then the price difference has been shrinking, reaching $3.40 per barrel in the past couple of days. This is the smallest closing spread between the two since October last year, Reuters noted in its report. “A discount of $4, in my opinion, is always the…

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