The Hidden $40-Per-Barrel Cost Driving Oil Prices Higher ...Middle East

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The Hidden $40-Per-Barrel Cost Driving Oil Prices Higher
source : OILPRICE ( Middle East ) () 53
When Americans think about the price of oil, they usually focus on the number quoted every day in financial markets. If Brent crude is trading above $100 a barrel or West Texas Intermediate is near $100, those numbers become shorthand for whether oil is expensive or cheap. But that market price is only part of what ultimately determines the cost of getting crude oil to a refinery. But transportation has become a cost that has become impossible to ignore. Reuters recently reported that shipping roughly 2 million barrels of crude from the United…

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