Commodity indexes rebalance in favour of Brent but WTI seen outperforming in 2012

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With the annual rebalancing of the Standard & Poor's Goldman Sachs Commodity Index (S&P GSCI) and the Dow Jones–UBS Commodity Index (DJ–UBSCI) taking place this week, weightings of West Texas Intermediate (WTI) have decreased while Brent has grown, reflecting the increased interest in Brent relative to WTI last year.

However, it comes at a time when many analysts forecast that the Brent/WTI spread has peaked, and that WTI may outperform Brent this year.

Brent crude averaged just under $111 per b