U.S. Crude Exports Are Increasingly Competitive

U.S. Crude Exports Are Increasingly Competitive

1. WTI-Brent Gap Makes US Crude Exports Attractive - With US crude benchmark dropping to a mid-$80/barrel environment lately, the continuous discrepancy between ICE Brent and WTI is incentivizing crude exports out of the Gulf Coast. - With no hurricane to disrupt loadings so far this year, the robust transatlantic flows have been taking place in spite of soaring freight costs, to the tune of $5-6 per barrel, tripling year-on-year. - The ICE Brent-WTI spread rose to almost $7 per …