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All Oil Prices Not Created Equal

That explains a lot! Why don’t gas prices go down when the price of oil falls? Which oil price would you be referring to? West Texas Intermediate? Brent?

Right now WTI trades about $20 less than Brent.

Asian demand – more tightly connected to Brent than WTI.

Why should we care? US refiners get a lot of their oil from overseas. You guessed it. More the price of Brent, than West Texas.

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