The Spread Between Brent And WTI Has Aligned With Transatlantic Freight Costs ...Middle East

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The Spread Between Brent And WTI Has Aligned With Transatlantic Freight Costs
source : OILPRICE ( Middle East ) () 21
The cost of transporting U.S. crude from the Gulf Coast to Europe has been increasingly determining the discount at which the U.S. benchmark WTI trades relative to the North Sea crude benchmark Brent, according to estimates by Argus. So far in September, the cost of shipping a U.S. crude cargo from the Gulf Coast to Europe has been nearly the same as the Brent-WTI spread. This month, a cargo of 700,000 barrels of WTI crude has cost $2.33 per barrel on average to transport from the U.S. Gulf Coast to Europe. This has been only a penny away from…

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