Oil: London Up, New York Down

March 9th, 2011
in econ_news

oil rig north sea Econintersect:  Oil traded down Wednesday in New York with WTI (West Texas Intermediare) crude settling 0.6% lower at $104.38.  In London Brent crude went the other way, soaring by 2.4% to close at $115.32.  The premium for Brent increased again to $10.94.  The spread had narrowed over the preceding seven days from $16.50 a week ago Tuesday to $7.65 yesterday.

Follow up:

Closing prices from Bloomberg:

  • WTI Cushing Spot            $104.38   -0.6%
  • Dated Brent Crude           $115.32    +2.4%
  • NYMEX Crude Futures $104.38    -0.6%

Sources:   Bloomberg, post1.net and GEI News

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