Liam Denning, Columnist

America's Oil Isn't Going With the Flow

Structural issues have hurt WTI crude prices; fixing them could inspire U.S. firms to pump more.

November 7, 2017 at 7:00 PM UTC

Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column.

A pipeline sign stands in Cushing, Oklahoma.
Photographer: Daniel Acker

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A mea culpa: This piece I wrote last week on the dislocation between benchmark U.S. and international oil prices missed something important.

While I emphasized the differences in speculative money flows to the Nymex West Texas Intermediate, or WTI, and Brent crude oil contracts, I didn't give the role of logistics the prominence it deserved. So here goes.