West Texas Intermediate Could Form Part Of Brent Benchmark ...Middle East

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West Texas Intermediate Could Form Part Of Brent Benchmark
source : OILPRICE ( Middle East ) () 10
The Brent crude benchmark for oil prices could soon include West Texas Intermediate, Bloomberg has reported, citing plans by S&P Global Platts to expand the most traded oil contract globally. The ratings agency has invited feedback on the proposal by February 5. According to the report, Brent is used as the basis for pricing more than 65 percent of physical oil deliveries, and adding WTI to the basket that makes up Brent will highlight the growing importance of U.S. crude oil after the Obama administration removed a veto on U.S. oil exports…

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