Brent Favored Over WTI by U.S. Administration for First Time

Brent Favored Over WTI by U.S. Administration for First Time

Eddie Seal/Bloomberg

WTI has fallen 11 percent this year as the U.S produces oil at the fastest rate in almost two decades amid a boom in horizontal drilling and hydraulic fracturing, or fracking, that’s putting the country on course to become self-sufficient in energy.