Crude prices were up Tuesday with the U.S. benchmark West Texas Intermediate moving higher than its global counterpart Brent because of the prospect of the first shipment of crude being exported from the Gulf Coast in January. Brent was up 0.38% at $36.76 a barrel on London’s ICE Futures Europe while WTI jumped 0.41% at $36.96 for February deliveries. Switzerland is expected to be the first destination for a shipment of U.S. crude oil from the Eagle Ford shale oil formation in Texas. Geneva-based oil trader Vitol is the customer for the cargo, and the swift resumption of U.S. oil exports after the lifting of a 40-year ban is the reason for WTI’s recent rally. Brent is still skirting close to 11-year lows with several bearish factors weighing heavily on the benchmark. Workers watch journalists during a media tour of the Khurais oilfield in Saudi Arabia. In the Middle […]