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On Tuesday, the spread between the price of Brent crude oil on the Intercontinental Exchange (ICE) and the price of crude oil futures on the New York Mercantile Exchange (NYMEX) crude oil price broke through the $10 per barrel mark at the close of Asia, the first time since June, and uncertainty has begun to inject volatility
into Brent crude oil prices, according to Platts Energy News reported in Singapore on September 19.
According to statistics from S&P Global Platts Energy, the spread between ICE Brent crude and New York Mercantile futures crude oil reached $10.
36 per barrel in November at 4:30 pm Singapore time (0830 GMT
) on Tuesday.
Statistics from Platts showed that the last time the spread was higher was on June 12, when it was $
10.
56 a barrel.
However, the spread lost some momentum late on Tuesday
.
New York Mercantile Exchange crude futures contracts rose in November on expectations of soaring demand ahead of Hurricane Florence reaching the East Coast later this week
.
The difference between November Brent crude and New York Mercantile Exchange crude futures closed at $10.
02 a barrel on Tuesday, and closed at $9.
79 a barrel
at 0600 GMT on Wednesday.
On Tuesday, the spread between the price of Brent crude oil on the Intercontinental Exchange (ICE) and the price of crude oil futures on the New York Mercantile Exchange (NYMEX) crude oil price broke through the $10 per barrel mark at the close of Asia, the first time since June, and uncertainty has begun to inject volatility
into Brent crude oil prices, according to Platts Energy News reported in Singapore on September 19.
According to statistics from S&P Global Platts Energy, the spread between ICE Brent crude and New York Mercantile futures crude oil reached $10.
36 per barrel in November at 4:30 pm Singapore time (0830 GMT
) on Tuesday.
Statistics from Platts showed that the last time the spread was higher was on June 12, when it was $
10.
56 a barrel.
However, the spread lost some momentum late on Tuesday
.
New York Mercantile Exchange crude futures contracts rose in November on expectations of soaring demand ahead of Hurricane Florence reaching the East Coast later this week
.
The difference between November Brent crude and New York Mercantile Exchange crude futures closed at $10.
02 a barrel on Tuesday, and closed at $9.
79 a barrel
at 0600 GMT on Wednesday.
