Energy Market Dashboard
Interactive chart tracking historical Brent and WTI crude oil prices — plus the spread — to understand trends impacting Calgary-based energy importers.
Key Observations
- Brent and WTI prices have followed a similar long-term trend, with sharp peaks around 2008 and 2011 due to global supply shocks.
- The spread between Brent and WTI widened significantly between 2011 and 2015, driven by U.S. shale production and infrastructure bottlenecks.
- Since 2020, prices have been more volatile, reflecting COVID-19 disruptions and geopolitical tensions (e.g., Russia-Ukraine).
- As of 2024, Brent remains slightly above WTI, with a relatively stable spread — suggesting more predictable import costs for Calgary-based refiners.
TL;DR: Calgary-based businesses importing oil should expect relatively stable Brent-WTI spreads in the short term, but should monitor geopolitical shocks closely.