Why the WTI-Brent spread is narrowing: A glut at Cushing pushed down WTI prices relative to...

|By:, SA News Editor
Why the WTI-Brent spread is narrowing: A glut at Cushing pushed down WTI prices relative to Brent in recent years, but the spread has been narrowing as the key Seaway pipeline is being reversed and likely will narrow further as capacity is expanded. If oil prices stay at current levels or fall a bit more, Bill McBride thinks gasoline prices should drop further too.