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Insight: WTI is losing its glitter

Source: Financial Times, 3rd November 2009

Less surprising than the change in the benchmark for Saudi oil sales into the US, whereby Saudi Arabia has dropped the West Texas Intermediate contract, was that it took so long to happen. Neither Riyadh nor its US customers have been happy with using WTI crude as their yardstick, even though it is the most liquid financial instrument available for oil.



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