Brent Down Slightly on IEA Forecast, Differential to Nymex Narrows

摘要

Brent crude prices slipped on Tuesday,dragged down by spread selling and adownward revision to the InternationalEnergy Agency’s (IEA) forecast for growthin global oil consumption due to thestruggling economy.Traders extended a deep sell-off in thepremium of Brent to US crude futures into asecond day, with the spread narrowing morethan $2 to under $22 a barrel as US futuresrose above $90 to their highest in five weeks.