Oil Rises, Speculative Liquidation Continues

摘要

Oil prices rose slightly Tuesday, with ICE Brent in London picking up 38c to close at $73.44 per barrel and US benchmark Nymex West Texas Intermediate (WTI) grabbing 63c to close at $68.52/bbl. But behind the gains, changes to the underlying time spreads in oil continued to weaken — sending more bearish signals to the market. Brent’s prompt discount compared to futures contracts six months out swelled to 80c from 57c the day before.