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MAR 13, 2014 - TheStreet

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Jim Cramer: Trading a Glut in Oil

NEW YORK (Real Money) -- Not enough pipe. Not enough refinery space. Too much oil. That's the story of the Permian oil field, where production has increased as astounding 400,000 barrels a day in the last two years. That's caused a discount to the already-discounted West Texas Intermediate price. How big is it? Right now, West Texas is selling for a discount of $10 to Brent -- $98 vs. $108 -- and then Permian is selling at an additional $8 decline to the $98 price as Permian producers duke it out for pipeline space and take discounts galore to do so. That's behind the remarkable resurgence ... Read More

Tags: Jim Cramer: Trading a Glut in Oil,  Petroleum Latest News