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.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%
