Gregor Macdonald, oil analyst at Gregor.us, was on StockTwits TV explaining the spread and what refiners were doing. I embedded the video below and a table of the WTIC/Brent Crude price spread through September, 2011. Who is going to corner the spread? They can store oil in tanks on vacant land.
|Month (2011)||West Texas Intermediate Crude Oil||Brent Crude Oil||Differential|
Source: Philpearlman.com via StockTwits TV/Market Shrinkology 2/15/2011