EIA: Crude oil prices increased, Brent-WTI spread widened in 2017

Crude oil prices ended 2017 at $60/bbl, the highest end-of-year price since 2013. West Texas Intermediate (WTI) crude oil prices averaged $51/bbl in 2017, up $7/bbl from the 2016 average, and ended the year $6/bbl higher than at the end of 2016. Brent prices have moved up $10/bbl since the end of 2016 and ended the year at $65/bbl, widening the Brent-WTI spread to $5/bbl at the end of the year, the largest difference since 2013. More »