Brent-U.S. Crude Futures Spread Narrows
The spread between Brent and U.S. crude futures narrowed to less than $5 a barrel on Wednesday, the weakest Brent premium to its U.S. counterpoint since early February after it reached $13.03 on March 2.
The spread <CL-LCO1=R> between May Brent, a contract expiring today, and U.S. May crude was at $5.10 a barrel at 9:02 a.m. EDT (1302 GMT), having narrowed to $4.92 and been as wide as $5.55 intraday.
Reporting by Robert Gibbons
