Oil Declines Again Friday 3/11/11

March 11th, 2011
in econ_news

oil barrels 2 Econintersect:  For the second day in a row, crude oil prices declined significantly.  London saw Brent crude prices fall 1.8% to $112.90, while WTI (West Texas Intermediate) crude declined to $101.16.  The spread between London and New York prices narrowed to $11.74 from $12.06 Thursday, but remained well above the $7.65 spread on Tuesday.  The recent high for the premium in London over New York was $16.50 on March 1.

Follow up:

Closing prices from Bloomberg:


  • WTI Cushing Spot            $101.16    -1.5%
  • Dated Brent Crude           $112.90    -1.8%
  • NYMEX Crude Futures $101.16    -1.5%

Sources:  Bloomberg post1.net and GEI News 

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