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WTI and Brent futures pricing structure

Daniel Scheitrum (), Colin A. Carter and Cesar Revoredo-Giha ()

Energy Economics, 2018, vol. 72, issue C, 462-469

Abstract: WTI and Brent crude oil futures are competing pricing benchmarks and they jockey for the number one position as the leading futures market. The price spread between WTI and Brent is also an important benchmark itself as the spread affects international trade in oil, refiner margins, and the price of refined products globally. In addition, the shapes of the WTI and Brent futures curves reflect supply and demand fundamentals in the U.S. versus the world market, respectively.

Keywords: Crude oil futures; Commodity storage; WTI; Brent; Competitive storage model (search for similar items in EconPapers)
JEL-codes: C63 F17 Q02 Q40 Q41 Q48 (search for similar items in EconPapers)
Date: 2018
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Energy Economics is currently edited by R. S. J. Tol, Beng Ang, Lance Bachmeier, Perry Sadorsky, Ugur Soytas and J. P. Weyant

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