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Even though Brent and WTI have distinctive properties, their costs are interconnected. Worldwide functions, offer and desire components, and market sentiment could cause rates to converge or diverge amongst the two benchmarks.
These contracts present an avenue for industry members to deal with their publicity to crude oil price movements or speculate on long term value improvements.
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(All price ranges are already taken from numerous midstream providers and the prices are the averages They can be paying for a variety of blends)