Tag: Brent Crude

Oil, Oil, Who Wants Some Oil? Part 4: The Brent Crude Complex

by Sean Field and Mette M. High

When West Texas Intermediate (WTI) crude oil plummeted to a closing price of –US $37.63 on 20 April 2020, the spot price of Brent crude oil only fell to US $17.36. This striking price difference between these two rival crude oil benchmarks highlights important dynamics that pertain to not only the supply and demand of oil, but also the social construction of futures markets.

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