Brent Reaches Strongest Level Against WTI in Three MonthsMoming Zhou
West Texas Intermediate’s discount to Brent crude reached the widest point in three months as oil declined for the third time in four days on the New York Mercantile Exchange.
WTI for November delivery fell 25 cents to $101.36 a barrel at 9:12 a.m. on the New York Mercantile Exchange. The contract fell to $101.61 yesterday. Trading was 35 percent above the 100-day average for the time of day.
Brent for November advanced $1.13, or 1 percent, to $110.19 a barrel on the London-based ICE Futures Europe exchange. Trading was 27 percent above the 100-day average. The North Sea crude reached a premium of $8.86 to WTI, the biggest difference since June 7.