Nov. 4 (Bloomberg) -- The Standard & Poor’s GSCI Commodity Index will raise the weighting of Brent crude in 2012 as it reduces that of West Texas Intermediate.
The index weight of Brent crude traded on the ICE Futures Europe exchange will increase to 17.35 percent from 15.93 percent as the share of WTI traded on the New York Mercantile Exchange decreases to 30.25 percent from 32.59 percent, according to a company statement dated yesterday.
The difference between Nymex crude and Brent widened to $17.71 today. The spread has fallen 36 percent from a record of $27.88 on Oct. 14.
The Dow Jones-UBS Commodity Index announced Oct. 11 it will include Brent for the first time in January, with a weighting of 5.31 percent, and cut its WTI allocation to 9.69 percent from 14.71 percent.
--With assistance from Mark Shenk in New York. Editors: David Marino, Margot Habiby
-0- Nov/04/2011 20:04 GMT
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