Crude oil prices were higher in a variable trade, yesterday. The feature of the complex continues to be the narrowing of the Brent-WTI spread. It has narrowed a remarkable $12 since February. The combination of the rebound of North Sea output and the displacement of West African barrels from the US market has caused the move. The liberation of increasing amounts of WTI crude via rail has also raised WTI’s value outright.
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