One Crude Oil Languishes, Another Spikes

NEW YORK


Crude oil on the Nymex ended 2006 at $61.05 a barrel, while Europe’s Brent crude closed the year at a slight discount of $60.86 a barrel. That relationship was the normal order of things for years: Nymex crude oil _ pegged to high quality light, sweet West Texas Intermediate _ has enjoyed benchmark status in the Americas for two decades and has generally fetched a premium to other grades of crude.

Recently, the balance has shifted.

AP