Gap between WTI and Brent may narrow in 2014

The European benchmark Brent crude increased on Friday widening the gap between the West Texas Intermediate crude and the Brent, however the report showed that the price difference is forecast to shrink next year as the U.S. exports are expected to reach a record level. Brent traded at a level of $111.25 a barrel on today's session in London, $12.26 more than WTI contracts on the NYMEX.