Narrow Spreads Could Hamper US Crude Exports

摘要

Crude differentials in the US suggest a tough outlook for would-be exporters. The headline spread between global benchmark Brent and US counterpart West Texas Intermediate (WTI) priced at Cushing, Oklahoma, hovers around $2.25. That spread is well below the $3 to $3.50 level many experts have identified as necessary to justify shipping crude from Cushing to ports along the Gulf Coast for export.