# North American crude oil prices are closely, but not perfectly, connected -
		U.S. Energy Information Administration (EIA)

> The EIA explains that NYMEX WTI fell to -$37.63 settlement on April 20, 2020, and that North American crude markers were linked through pipelines and formula pricing. It notes WTI's limited usefulness as a reference due to its Cushing-specific settlement.

- Date: 2020-05-27 · published 2020-05-27T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/53304-north-american-crude-oil-prices-are-closely-but-not-perfectly-connected-u-s
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Understanding benchmark linkages helps buyers interpret energy price signals that feed into diesel, freight and biofuel costs, though it describes past events rather than a new price move.

## Read by commodity

- WTI: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-01-07 | [Crude oil prices were generally lower in 2019 than in 2018 -
		U.S. Energy Information Administration (EIA)](https://feedsoft.ai/events/55330-crude-oil-prices-were-generally-lower-in-2019-than-in-2018-u-s-energy.md) | -8.1% | -21.6% |
| WTI | 2017-09-21 | [Changing quality mix is affecting crude oil price differentials and refining decisions -
		U.S. Energy Information Administration (EIA)](https://feedsoft.ai/events/69127-changing-quality-mix-is-affecting-crude-oil-price-differentials-and-refining.md) | +3.6% | +3.4% |
| WTI | 2024-02-01 | [EIA expects relatively flat crude oil prices in 2024 and 2025](https://feedsoft.ai/events/32277-eia-expects-relatively-flat-crude-oil-prices-in-2024-and-2025.md) | -2.6% | +3.6% |
| WTI | 2019-02-01 | [EIA forecasts world crude oil prices to rise gradually, averaging $65 per barrel in 2020](https://feedsoft.ai/events/61262-eia-forecasts-world-crude-oil-prices-to-rise-gradually-averaging-65-per-barrel.md) | -2.1% | +6.3% |
| WTI | 2017-08-01 | [Brent and WTI crude oil prices expected to average about $50 per barrel through 2018](https://feedsoft.ai/events/70147-brent-and-wti-crude-oil-prices-expected-to-average-about-50-per-barrel-through.md) | -1.6% | -7.5% |

## Sources

- eia.gov: https://www.eia.gov/Todayinenergy/detail.php?id=43875

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.