US cash crude prices fall on lower WTI, narrower arb.

摘要

Spot crude prices came off in the week to July 3, as the cash market followed down the West Texas Intermediate (WTI) benchmark, which eased back from geopolitical-related spikes in recent weeks. Also putting pressure on cash crude prices was a narrowing transatlantic arbitrage spread, as Brent crude prices dropped at a quicker pace than did WTI prices. The market was closed on Friday, July 4 for the Independence Day holiday in the US.