International crude:Uptick in North Sea benchmark

摘要

Dated Brent/BFOE was assessed marginally higher Tuesday at 88.12/barrel as the underlying crude complex was fueled by an expectation of a reduction in the inter-bank lending rate in the US.Meanwhile,North Sea sentiment was bearish.The spread between the first and second month BFOE cash contracts flipped into contango for the first time since September 2007 as prompt weakness implied by the CFD curve began to seep into the January BFOE cash contract.