The price gap between the world’s two biggest oil benchmarks probably will narrow next year as U.S. exports of refined fuels reach a record and crude supply from the Middle East and North Africa expands. West Texas Intermediate, the U.S. benchmark, will average $6 a barrel less than Europe ’s Brent in 2014, from $11.65 now, according to Commerzbank AG. Goldman Sachs Group Inc. is predicting $9 and Barclays Plc $8.30. The world’s most-traded energy spread already contracted 39 percent from the eight-month high of $19.01 reached Nov. 27. While the U.S. is pumping the most crude oil in a quarter century, laws prohibit most exports, driving down costs for domestic refiners and spurring record shipments of everything from diesel to gasoline that will diminish stockpiles. The forecasters expect Brent prices to weaken as regional supply recovers, led by Iran and Libya. “The continuing arbitrage for oil products out […]