Thursday, March 14, 2013

Random Update on the Brent/WTI Spread; Bakken Discount To WTI

This was an interesting bit of trivia that I missed on March 5, 2013. It appears that no one else commented on it (at least of the sites I routinely check):

Today:
March 14, 2013:  At Bloomberg energy, Brent - $111; WTI - $93. Spread: $18. Bakken discount at Clearbrook, MN: - 25 cents. So, today, Bakken and WTI are flirting with parity. Bakken is selling for 25 cents less than WTI.

Flashback: 
Back on March 5, 2013: for one day, Bakken sold for a premium at Clearbrook, selling at a premium of + $1.50/bbl compared to WTI. Bakken had not sold at a premium to WTI since October 19, 2012.

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