WTI-Brent, Midland-WTI both near multi-year highs
Oil markets are beginning to separate, as several trends drive rising differentials in local and national pricing.

The WTI-Brent spread rose to over $11/bbl in intraday trading on both Thursday and Friday, the highest level in over three years.

Even after the recent drop in oil prices on speculation that OPEC may increase output, producers outside the U.S. are enjoying oil prices above $75/bbl (Brent). E&P companies in the U.S., by contrast, are receiving less than $65/bbl. The spread...

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