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$21

That is the difference between Brent crude ($118bbl) and WTI Crude ($97) this morning. Now one problem is that Cushing is where the WTI price is established, whereas Brent is based on deliverable oil anywhere in the world. So generally WTI crude must take into account glut conditions at Cushing (you got to store oil...).

Anyway, no one seems to know why the differential is as large as it is today -- a month ago (when the storage issue at Cushing was even worse than today) the difference was $14.

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