Goldman's call that the gap in price between Brent and West Texas crude would shrink by more...

|By:, SA News Editor

Goldman's call that the gap in price between Brent and West Texas crude would shrink by more than half by year's end looks increasingly in doubt, as an oversupply of light sweet crude from the Gulf into Cushing could could cause spreads to widen further. But "lots of factors" tend to indicate the Cushing glut may be nearing an end, so Goldman's error could be in the timing, not the end result.