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Yes, WTI and Brent oil futures are generally used for hedging needs by contributors inside the oil field. Oil producers, refiners, along with other industry members often employ futures contracts to deal with their publicity to price volatility.
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Both of these factors bring about a rate distinction between The 2 termed the ‘spread’ which can transform depending on distinct provide/desire dynamics and geopolitical influences.
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There's two principal variances amongst WTI and Brent, The placement from which They can be sourced and the caliber of the oil.
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