Well apparently its not as Brent at one point traded $30/bbl higher than WTI & at the moment is around 10% higher. Only a few weeks ago the differential got to under a $1 so Brent has steadily been climbing whilst WTI has been pretty much in the doldrums. I would suggest that's because the US publish their stock piles weekly & they have been growing substantially whilst I'm not aware of the same information being available for Brent. There has been talk of substantial amount of crude being stored off market in super tankers etc. but I haven't seen anything that offers any idea of quantum.
Wow! oils up, page-6
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