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Petroleum Intelligence Weekly
PIW Scorecard: Saudi Switch Proving Popular
Copyright © 2010 Energy Intelligence Group, Inc.  (click for details)
Monday, August 2, 2010

Summary
Six months on, Saudi Arabia's decision to switch away from West Texas Intermediate (WTI) as the benchmark crude for its term-contract sales into the US is proving popular with customers and competitors alike. What's more, the move has essentially relegated WTI to a secondary, regional role in physical oil markets despite its continuing importance as the basis for the main crude futures contract in New York.

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