| Brent vs. WTI Spread |
11.14
1.70
|
|---|---|
| Last updated: October 4, 2026 09:28 | |
Brent vs. WTI Spread
The Brent vs. WTI Spread reflects the price difference of the international crude marker price of Brent and the U.S. domestic marker of West Texas Intermediate (WTI) crude in Cushing, OK. This differential gravitated around zero for decades with WTI frequently above and leading Brent. But that all changed in 2011 as the glut of shale production backed up in Cushing. In effect there are two variables that move this spread. The first is the difference between the crude price in Cushing and the price on the U.S. Gulf Coast. The second is the difference between the Gulf Coast and Brent. For U.S. crude exports to be economically viable, the price of Brent must be higher than the price on the Gulf Coast.
Canadian crude output is rising, requiring new export routes. As traditional pathways face constraints, the U.S. Rockies—especially the Guernsey, WY hub—are emerging as key corridors for moving Canadian heavy crude to downstream markets, including the Gulf Coast.
Related Articles
U.S. Rig Count Down One to 598; Gas Rigs Pull Back From Last Week's High
U.S. oil and gas rig count fell by one rig to 598 for the week ending October 2 according to Baker Hughes data, as declines in the Eagle Ford (-2) and Haynesville (-1) outweighed gains in Gulf of Mexico (+1) and the Niobrara (+1).
Leap of Faith – Potential Plans to Limit U.S. Diesel Exports Come With Plenty of Downside Risk
A series of disruptions to global refining capacity and refined-product flows has raised the prospect of a ban on U.S. diesel exports as a way to keep prices in check. Today, we look at where things stand and how a U.S. export ban could result in a number of major unintended and negative consequences.
U.S. Rig Count Up Four to 599; Gas Rigs Climb to Highest Level Since July 2023
U.S. oil and gas rig count gained four rigs to 599 for the week ending September 25 according to Baker Hughes data, as gains in Anadarko (+1), Gulf of Mexico (+1), Permian (+1) and All Other (+2) eclipsed a one-rig decline in the Eagle Ford.
A Matter of Trust – Variations in Crude Oil Quality Make On-Spec Delivery Critical for Global Refiners
Two vehicles may look identical from the outside, but what’s under the hood can make all the difference. Today, we look at how the same principle applies to crude oil, as barrels that meet the same basic specifications can still behave very differently once they reach a refinery.
The $52 Million Voyage: Freight Squeezes the Export Arb
The tanker bill keeps climbing for U.S. crude headed to Asia. As discussed in this week’s Tradeview and Crude Voyager reports, the cost of chartering a Very Large Crude Carrier (VLCC) from the U.S.
