"Can we all just forget about WTI," asked oil trader Ian Taylor. "It's no longer an...

"Can we all just forget about WTI," asked oil trader Ian Taylor. "It's no longer an international currency of any value whatsoever." Brent crude (BNO) looks to officially overtake WTI (USO) in the new year. Among the moves is the widely-followed GSCI index (GSG) slashing its weighting of WTI at the expense of Brent.
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Comments (3)
  • saratogahawk
    , contributor
    Comments (2534) | Send Message
    Say what. I will be officially surprized when WTI goes out the door. Frankly its good for the Canadian oils (going from WTI pricing to Brent) that are hit with a quasi demurrage charge for getting their oils thru the US to the world markets. If WTI goes byebye wouldn't the nat gas disparity also then go byebye?
    20 Nov 2012, 12:19 PM Reply Like
  • kmi
    , contributor
    Comments (4579) | Send Message
    WTI may regain its relevance slowly, as more of the Cushing stuff gets to the Gulf, and if more of the Gulf stuff gets up the East Coast.


    There's going to be legal hurdles blocking that.


    US oil production increasing is going to require easing its movement domestically and perhaps reforming export laws.


    If Congress continues to obstruct anything getting done on a legislative front WTI may indeed die. US needs to update Jones Act, ratify Law of the Sea Treaty...


    At the end of the day the less oil the US imports the less relevant its benchmarks are to international markets. That's only natural.
    20 Nov 2012, 12:26 PM Reply Like
  • Remyngton
    , contributor
    Comments (343) | Send Message
    Ian Taylor = clueless
    20 Nov 2012, 12:33 PM Reply Like
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