US ends oil export ban
Following congress’ decision, the oil market is now trying to gauge the possible effects of lifting the US oil export ban on an already oversupplied oil market. According to some analysts, large volumes of US crude are unlikely to emerge immediately after the removal of the restrictions as the delta between WTI crude and Brent crude prices has narrowed to about $1.25/barrel, making domestic sales more attractive than export deals for US producers.
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