Kai Risdahl

I'm Kai Risdahl.

We've been talking about the price of crude oil nearly daily of late.

We've been talking about the price of crude oil nearly daily of late.

Both the global benchmark Brent North Sea going today for a bit more than $109 a barrel.

Both the global benchmark Brent North Sea going today for a bit more than $109 a barrel.

And West Texas Intermediate, that's the U.S.

And West Texas Intermediate, that's the U.S.

standard price today, as I said a minute ago, at $111 a barrel.

standard price today, as I said a minute ago, at $111 a barrel.

The thing I want to point out, though, is that that price gap with the global benchmark cheaper today,

The thing I want to point out, though, is that that price gap with the global benchmark cheaper today,

then the U.S.

then the U.S.

standard is exactly the opposite of how things usually go.

standard is exactly the opposite of how things usually go.

West Texas is usually less expensive than Brent.

West Texas is usually less expensive than Brent.

So we have called Tom Kloza.

So we have called Tom Kloza.

He's the chief energy advisor at Gulf Oil to help explain.