TRENDS

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The price path of different crude oil benchmarks has not been smooth over the past year, with oil prices moving up and down as the market tests new levels amid numerous uncertainties, including changing perceptions of global economic recovery and renewed world oil demand growth. West Texas Intermediate (WTI) typically sells at a discount to Louisiana Light Sweet (LLS) and at a premium to another benchmark crude oil, Brent, due to the differences in quality and location.