Benchmark U.S. and Global Oil Contracts Diverge After Trading At Similar Prices

The Wall Street Journal reported that U.S. oil contracts diverged from global contracts on Monday.

As quoted in the publication:

Light, sweet crude for August delivery fell 10 cents, or 0.1%, to $104.49 a barrel on the New York Mercantile Exchange. The August contract expires at settlement on Tuesday. The more actively traded September contract fell 18 cents, or 0.2%, to $102.68 a barrel. Brent crude for September delivery on ICE Futures Europe rose 28 cents, or 0.3%, to $107.96 a barrel. The closely watched price gap between the two September contracts traded at $5.28 a barrel, up from $4.82 a barrel Monday, which was the narrowest gap since October 2013.

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