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Brent tops WTI as benchmark

02/21/2011
by Sam Fletcher, Senior WriterAs the international benchmark other crudes are priced against, "West Texas Intermediate is dead, long live North Sea Brent," said analysts in the Houston office of Raymond James & Associates Inc. WTI's recent disconnect with other crude prices in the global market "is here to stay—for awhile," they predicted.For some 50 years, WTI traded at the key Cushing, Okla., hub as proxy for global oil prices and at a slight premium above most other crudes because of its low sulfur content and its high API gravity. Occasionally, this normal trading pattern has been disrupted for brief periods, such as the 2007 refinery fire in Sunray, Tex....
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