Oil Declines Tuesday

March 8th, 2011
in econ_news

oil-barrels1 Econintersect:  Oil prices eased Tuesday (March 8), with Brent crude down more than WTI (West Texas Intermediate) crude again.  After peaking in early trading Monday morning at $106.83, WTI crude traded down to $105.44 by market close yetserday and another $0.42 by the close Tuesday at $105.02, after trading as low as $104.69 during the day.

Follow up:

From Bloomberg here are the market close prices today:

In after hours trading the NYMEX futures contract is down another $0.22 at $104.80.

The spread between Brent and WTI crude narrowed further to $7.65.  This is down $8.85 from the spread last Tuesday ($16.50).

  • WTI Cushing Spot            $105.02   -0.4%
  • Dated Brent Crude           $114.49    -1.7%
  • NYMEX Crude Futures $105.02   -0.4%

Sources:   Bloomberg, post1.net and GEI News

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