The front-month ICE Brent/WTI spread narrowed below $6/b Wednesday after Energy Information Administration data showed US crude exports exceeded 2 million b/d last week, a record-high. With the premium for Brent over WTI around $5-$7/b most of the time since September, versus a premium of $3/b in mid-August, US crude producers have taken advantage higher prices abroad. Related Capitol Crude podcast: Battle of the benchmarks: Should WTI be the global benchmark for oil prices? Crude exports rose 209,000 b/d to 2.133 million b/d, beating the previous all-time high of 1.984 million b/d set the week ending September 29. Article continues below… The Brent/WTI spread was around $5.98/b Wednesday afternoon, in from $6.99/b Tuesday. The rollover to January as the front-month contract also contributed to the day-on-day decline. US exports should remain solid considering a $6/b spread is still more than enough to cover the related transportation costs, said Kyle […]