Far out crude gets higher

摘要

Nymex WTI futures for delivery in December 2018 settled at almost $106/bl on 3 December, $4/bl up on the previous week, on expectations that spare Opec capacity will dwindle by the middle of the next decade. All WTI contracts from December 2016 onwards settled above $100/bl.Ice front-month Brent moved to a premium of S1.90/bl to front-month WTI, from 48^/bl on 25 November. An increase in Gushing stockpiles to their highest since early September boosted second-month WTI's premium to the front month to $1.75/bl, from about $1.30/bl a week earlier.