Crude prices rose on signs that the market is tightening, and on talk of a possible agreement to rein in production. Atlantic basin marker North Sea Dated rose by $5.35/bl to $49.77/bl in the week to 18 August, its highest since early June. US light sweet benchmark WTI rose by $4.73/bl to $48.22/bl. WTI’s wider discount to North Sea Dated has made US-priced exports more viable and at least two Suezmaxes have been provisionally booked to take Augustloading crude from the US Gulf coast to northwest Europe or the Mediterranean.
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