look at the WTI benchmark price (U.S. price) at 92

its way below ALL the world benchmarks


Tapis is at 104+ and Brent is at 98+

this is due to US demand dropping but world demand increasing

2010 saw world demand increase by 2.5 million bbls a day


so WTI will have to catch up to rest as it was working off the stored oil in floating tankers and is now dried up



guaranteed price increases ahead and this is only Jan...typically a tepid time of year for demand


I see 3.50-4.00 a gal easy this summer