US to base its forecasts on Brent instead of WTI

Specialists of the Energy Information Administration (EIA) of the US
Department of Energy have recognized the WTI crude oil market prices as
irrelevant to world prices of crude oil. From now on for the first
time in history Brent oil will be used as the basis for forecasts.

Over the past 11 months, the price of WTI fell 11% due to the
unusually rapid growth of oil production in the United States. The
price of Brent in the same period increased by 1.4% due to the growing
demand for this brand in Asian countries and concerns in the oil
market about possible interruption to the supply of Libyan oil and the
oil embargo on Iran.