WTI Houston Crude Prices Gain Prominence as U.S. Oil Exports Jump

The benchmark crude prices at Houston have seen increased trading volumes as the rise in U.S. crude oil exports out of the Gulf Coast is making regional prices more important for physical and futures traders, analysts and industry officials have told Reuters. Surging U.S. crude exports, particularly WTI Midland, have dominated global markets in recent months, with record export volumes and a significant portion being sent to Europe. Before the U.S. allowed in 2015 crude oil exports to international markets other than Canada, soaring American production…