US oil exports soar with price advantage

Fuel Fix:
U.S. crude exports soared to record high this week, doubling from a year ago, the Energy Department reported.

Analysts attributed the surge to lower prices of U.S. crude compared to Brent crude produced in the North Sea. The price gap between Brent and the U.S. benchmark, West Texas Intermediate has widened from $3 a barrel in early March to about $6 a barrel this week, according the S&P Global Platts, a commodities research and analytics firm.
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US oil exports show a nearly two million barrels a day increase over two years ago.  Europe has been a receptive market for the US oil as well as China.  The Port of Corpus Christi is becoming a major export terminal.

The Texas Permian Basin is also on track to become the world's largest oil field.

Comments

  1. The sad part is Merkel who will be here Friday would rather do business (gas, oil) with Putin than the US, Trump. Reagan spent the USSR into bankruptcy, it collapsed Trump could do the same thing using oil, natural gas, fracking. Russian economy is largely funded by its oil, gas exports. People do not realize the economy of Russia is not much larger than Spain's

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