Brent Crude Oil Set for 2nd Weekly Decline, Shrinks Premium to WTI

- March 22nd, 2013

Bloomberg reported that Brent crude is set for a second weekly drop, shrinking its premium to West Texas Intermediate to the lowest level in eight months on concerns that Europe’s efforts to resolve the Cyprus banking crisis will hurt economic growth.

Bloomberg reported that Brent crude is set for a second weekly drop, shrinking its premium to West Texas Intermediate to the lowest level in eight months on concerns that Europe’s efforts to resolve the Cyprus banking crisis will hurt economic growth.

As quoted in the market news:

Brent futures pared losses after earlier slipping as much as 0.5 percent, bringing its decline this week to 2.2 percent. WTI was poised for its first weekly drop since March 1.

Click here to read the full Bloomberg report.

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