July 1, 2025

Record midwest runs and inventory draws squeeze WTI-brent spread

Amid recent price volatility, a trend is emerging that points to divergent fundamentals on either side of the Atlantic: a tightening US market is causing the WTI-Brent spread to narrow, a dynamic that is likely to persist and lend support to the Dated Brent complex.

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Record midwest runs and inventory draws squeeze WTI-brent spreadCargo ship docked at industrial port with red-covered containers and red ore piles, city skyline in the background.

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