Growing U.S. Oil Discount Can Quadruple Money: Energy Markets

U.S. oil, the cheapest in almost two years relative to other grades of crude, is poised to extend its discount, giving investors who trade price differences a chance to more than quadruple their money.

West Texas Intermediate crude, or WTI, on the New York Mercantile Exchange may drop to $8.50 less than North Sea Brent before it rises again, based on the median forecast of 10 traders surveyed by Bloomberg. It has averaged 90 cents a barrel more than Brent in the past 10 years, data compiled by Bloomberg show. WTI was $7.14 a barrel cheaper than the European benchmark blend today, the biggest discount since February 2009.