The current volatility of crude oil spreads Brent/WTI and Brent/LLS are a sign that, when it comes to light, sweet crude in the US, refining capacity limits are being reached, Ed Morse, head of commodities research at Citigroup, told energy information service Platts.
At a press event for the release of Citi’s annual market review, Morse was asked whether the US will soon run out of refining capacity as US production of crude oil continues at a high pace.
