WTI Oil Trades Highest in 2 Weeks, Shrinks Discount to Brent

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.

Click here to read the full Bloomberg report.