Global prices drop sharply

摘要

1. Benchmark crude prices fell heavily, as the unexpected return of Libyan supplies offset a more than 12mn bl crude stockdraw in the US. Atlantic basin benchmark North Sea Dated fell by $4.84/bl to $72.18/bl, while US marker WTI dropped by $2.61/bl to $70.33/bl. The September Brent-Dubai exchange of futures for swaps (EFS) - Brent futures' premium to Dubai swaps, and a measure of the west-east arbitrage - narrowed to $2.78/bl, its slimmest since December.