Brent Premium to WTI Widens as U.S. Supplies Gain Again
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U.S. oil supplies have risen more than 50 million barrels in seven weeks, keeping domestic crude from advancing as much as international prices.
West Texas Intermediate has climbed 5.1 percent this month versus a 16 percent jump in Brent, widening the European benchmark’s premium to more than $10 a barrel from $4.75 on Jan. 30. Supply disruptions in Libya have boosted Brent, while U.S. crude inventories and production climbed to records last week.