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Crude Settles as Traders Weigh Concerns About US Pipeline, Demand
Apr. 02, 2013 06:07PM PST
Oil and Gas InvestingReuters reported that Brent crude settled down 39 cents per barrel at $110.69 while US crude settled slightly higher up to 12 cents at $97.19 per barrel as traders weigh concerns about demand as well as the possibility of a longer pipeline outage in the Midwest.
Reuters reported that Brent crude settled down 39 cents per barrel at $110.69 while US crude settled slightly higher up to 12 cents at $97.19 per barrel as traders weigh concerns about demand as well as the possibility of a longer pipeline outage in the Midwest.
As quoted in the market news:
Uncertainty surrounding the impact of the ruptured Exxon Mobil Pegasus pipeline in the U.S. Midwest has kept U.S. light sweet crude prices volatile. The premium of Brent to U.S. light sweet crude ended at $13.50 CL-LCO1=R after the spread between the two widened to as much as $14.66.