Atlantic basin benchmark North Sea Dated rose by 3.34/bl to 103.29/bl on 6 March, and US marker grade WTI gained 2.88/bl to reach 105.47/bl - with both markets at new highs. Brent grade traded up to 104.24/bl, beating an inflation-adjusted record of 103.52/bl dating back to the 1980 Iran-Iraq war.Markets drew support from a surprise draw in US crude oil inventories, which fell by 3.1mn bl in the week to 29 February, led by a steep 2.4mn bl draw on the US west coast. US markets highlighted the perceived tightness in world middle distillate supplies relative to gasoline. Ultra-low sulphur diesel (ULSD) has risen by 15/bl in the key New York Harbor market over the last two weeks, compared with an increase of just 1.25/bl for Rbob gasoline over the same period.
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