WTI-Brent spread at narrowest in almost two years as US prices rise
“With Canadian wildfire season underway, further disruption could push the WTI/Brent spread below $3 this summer,” said analysts at Sparta.
Reuters, June 7, 2025 – The WTI-Brent crude spread narrowed to its tightest level since September 2023 on Friday, falling to $2.78 a barrel as U.S. prices climbed nearly 5% amid a drop in drilling activity and Canadian wildfire-related supply disruptions. Sparta Commodities analysts noted that ongoing production concerns and tighter onshore supply are likely to keep the spread below $3 this summer. However, OPEC+ supply increases and fragile export economics may limit further gains for U.S. crude.
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