WTI Seen to Gain in 2013, Closing Gap on Brent

Feb. 19 (Bloomberg) -- Jason Schenker, president of Prestige Economics LLC, talks about global growth prospects and the price spread between the world’s two most-traded oil contracts, West Texas Intermediate and North Sea Brent. He speaks with Francine Lacqua and Guy Johnson on Bloomberg Television's "The Pulse." (Source: Bloomberg)

The Crude Reality of BP's Sliding Profits
23:17 - BP Plc, the first oil major to report second-quarter results, said earnings fell 45 percent as lower crude prices continued to erode income and refining margins shrank. Profit adjusted for one-time items and inventory changes dropped to $720 million from $1.3 billion a year earlier, the company said Tuesday. That missed the $819 million average estimate of 13 analysts surveyed by Bloomberg. Downstream earnings, which include refining, declined 19 percent. Bloomberg's Ryan Chilcote reports and Source Head of Multi-Asset Research discusses with Bloomberg's Anna Edwards and Manus Cranny on "Countdown."
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