London-NYMEX March crude settled 45 cents lower January 31 at $97.49/b, while ICE March Brent finished 65 cents higher at $115.55/b after recovering from largely nega- tive trading overnight. Front-month Brent hit $115.76/b during late-afternoon US trade, the highest level for the front-month contract since October 15, 2012. The price movements widened the Brent-WTI spread by more than $1/b over the course of the trading day, settling at $18.06/b.
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