Price dislocation in benchmark crudes

Sam FletcherOGJ Senior WriterThe unusual persistent price dislocation between West Texas Intermediate and other benchmark crudes is affecting returns to commodity investors, said analysts at Barclays Capital in London. The September contract for WTI climbed to $97.60/bbl July 15 on the New York Mercantile Exchange, while in London, the September front-month IPE contract for North Sea Brent gained $1 to $117.26/bbl.As a result, Barclays analysts reported Standard & Poor’s Goldman Sachs Commodity Index (GSCI) returns since early 2010 (10%) were only at half the level they would have been if the usual relationship between WTI and North Sea Brent remained in place. “The Dow Jo...

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