The lifting of the U.S. ban on oil exports might actually make imports more appealing. By allowing American oil to compete globally, the price for U.S. benchmark West Texas Intermediate crude is inching closer to the international marker Brent, which has traded at a premium for most of the past five years. As the two prices converge, U.S. refiners may seek overseas cargoes priced off Brent if they can buy them cheaper than oil linked to WTI, according to JBC Energy GmbH. “The spread between Brent and WTI has narrowed so much that crude buyers have started to look for the trade flow that’s the cheapest,” said Peter Lee, an analyst with BMI Research. “Within the U.S., refiners accustomed to taking domestic grades will see that there are other options out there. This is possibly crude from the Atlantic basin.” WTI for February traded at a discount to Brent […]