(Bloomberg) -- Wholesale West Texas Intermediate crude oil, the U.S. benchmark, is no longer a gauge of the international oil market and may not be for years, according to a Lehman Brothers Inc. report today.
Prices of the grade, which is traded on the New York Mercantile Exchange futures market, are being depressed by a lack of storage at Cushing, Oklahoma, where WTI is delivered, competing supplies from Canada, refinery outages and difficulty in moving the oil elsewhere, the report said.
Read more at Bloomberg Energy News
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