Oil Trades Near Highest in a Week; Brent Premium Widens for an Eighth Day
By Paul Gordon -
2012-02-05T23:12:48Z
Oil traded near the highest price in almost a week in New York, while the premium of Brent crude to West Texas Intermediate widened for an eighth day.
Crude for March delivery was at $97.64 a barrel, down 20 cents, in electronic trading on the New York Mercantile Exchange at 7:08 a.m. Singapore time. The contract rose $1.48 to $97.84 on Feb. 3, the highest close since Jan. 31.
Brent oil for March settlement gained 11 cents to $114.69 a barrel on the ICE Futures Europe exchange. The premium to WTI was at $17.05 a barrel.
To contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.net
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