US crude oil exports to Europe have increased during April , as a result of a widening gap between the benchmark prices of Brent Crude and West Texas Intermediate ( WTI ) . Brent 's premium over WTI has risen , making the US market more competitive , while spring maintenance at refineries on the US East Coast has reduced local demand , and left more volume available for export . CPC Blend saw its premium to Dated Brent dive at the end of last week, from Dated Brent minus 55 cents/b on Wednesday to Dated Brent minus $1.13/b on Thursday after five offers were shown in the Platts Market on Close assessment process. Predictions that volumes from the US could reach 500 barrels per day have led to pressure on European and West African producers , which are already demanding lower prices .
US crude oil exports to Europe have increased during April , as a result of a widening gap between the benchmark prices of Brent Crude and West Texas Intermediate ( WTI ) . Brent 's premium over WTI has risen , making the US market more competitive , while spring maintenance at refineries on the US East Coast has reduced local demand , and left more volume available for export . Predictions that volumes from the US could reach 500 barrels per day have led to pressure on European and West African producers , which are already demanding lower prices .