Premiums London Oil Weakens Against U.S.

Learn Commodity : Differences price London Oil (Brent) on U.S. oil (WTI / Light sweet) down to the lever near 8 month. OPEC exports will decline at the beginning of April with some refinery maintenance in Asia peaked, according to Oil Movements.

Yesterday Brent traded narrowly after falling 1.2%. OPEC will reduce shipments by 0.2%. Libya closed its two oil fields due to the commotion there, based on the local news. Cyprus Parliament will begin debate today on legislation to unlock bailout funds to avoid financial collapse that threatens the European debt crisis further.

Brent May contract at $ 107.36 per barrel on the ICE Exchange in early trading Singapore. This contract has lost 2.2% this week, weakening the 2nd week, and 3.4% this year. Its for oil difference amounted to only U.S. $ 14.63, the narrowest since July.

WTI May contract at $ 92.58 per barrel, up 13 cents, in electronic trading on the Nymex. Weakened $ 1.05 to $ 92.45 a barrel yesterday, heading for the first weekly weakening of the last 3 weeks.