European butane discount narrows.

摘要

Butane's discount to Dated Brent has risen to a 12-week high of $36.73/bbl for NWE CIF cargoes on June 30, up from $38.34/bbl the session before. The narrowing spread was attributed to declining crude prices, as Brent has fallen from over $115/bbl on June 19 to an assessment of $111.02/bbl on June 30. The price of crude shot up earlier in the month as insurgents took control of portions of Iraq, but subsequently eased as it became clear that the offensive had slowed.