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WTI Oil Trades Highest in 2 Weeks, Shrinks Discount to Brent
Mar. 13, 2013 06:39PM PST
Resource InvestingBloomberg reported that West Texas Intermediate oil shrunk its discount to Brent to lowest level in 7 weeks as it traded near the highest level since the beginning of March.
Bloomberg reported that West Texas Intermediate oil shrunk its discount to Brent to lowest level in 7 weeks as it traded near the highest level since the beginning of March.
As quoted in the market news:
The IEA curbed its estimate for daily global oil consumption this year by 60,000 barrels to 90.6 million. Brent oil’s discount to WTI declined for a sixth day yesterday as the European benchmark price slid the most in two weeks.