The way it used to be, before US shale oil production pushed the limits on our pipelines.
Of course, this is not good news for the Russians, who need the money from their oil exports.
It is amazing to see how much the premium for Brent crude relative to regular crude has narrowed so much.
This morning oil was trading for less than $85.00/barrel.
Watch Obola try to take credit on behalf of the Dems in the next three weeks for lower gas prices!
I assume you mean West Texas Intermediate as quoted on most news cast? Key factor between them is location.
WTI on the exchange means delivered to Land-Locked Cushing, Oklahoma with the existing pipeline bottle next to too many refineries. That was the reason for driving the price differential in the past few years.
The way it used to be, before US shale oil production pushed the limits on our pipelines.