WTI should be more valuable that Brent because it is easier to refine correct? What causes the WTI-Brent to trade negative then, meaning the Brent price being higher than the WTI? Right now the only WTI-Brent spread that actively trades negatively is the December, any explanations or ideas?
There's A Lot Of Reasons for this phenomena. The build-up of stockpiles, The drop on the Baltic Dry ship prices, inflexibility of refineries etc etc.