A cracked barrel?

A benchmark is typically defined as the standard against which others are measured. Yet the West Texas Intermediate (WTI) crude oil benchmark has come up short against other grades of crude oil recently, with some market participants now questioning its viability as a price indicator.

Debate around the contract's suitability resurfaces regularly, yet recent concerns were piqued earlier this year by a considerable divergence in the spread between WTI and Brent, the London benchmark which trades on

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