For the longest time, Brent crude has been pricier than West Texas Intermediate. The latter has been in the basement - along with a certain Football predictor who shall remain nameless (PD?). This was mainly due to overproduction of oil from shale.
With the recent lifting of US export ban, coupled with slowing of shale oil production, and slight increase in off shore production in the UK, the WTI finally caught up with the International cuter part on December 22. And is now at 38.12 per barrels vs 37.89 for the now lowly Brent.
Please discuss. And stay on topic.