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What’s really behind the rewidening of the Brent-WTI spread?

Most analysts attribute the renewed increase in the differential between the prices of Brent crude and WTI over the last few days primarily to changes in the composition of the two major commodity indices. Similar impacts are also being discussed in the prices of other commodities affected by the annual rebasing taking place this week. However, the bulk of the recent widening in the Brent-WTI spread in particular can be explained by the heightened concerns over Iran. 

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