Crude Slips Closer to $70 Floor as Spread Continues to Narrow

摘要

Crude futures fell further Thursday as continuing pessimism pushed prices toward the $70 mark. The prompt US benchmark narrowed its discount against its European counterpart. Meanwhile, Nymex January gas futures soared 40￠, or 8.2%, to an 11-month high of $5.298/MMBtu after a government report showing an unexpectedly large draw in US stockpiles which sparked short covering.