Energy Update: Crude, Natural Gas Lower Today; WTI, Brent Spread Narrows

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Crude oil futures are lower this morning following Tuesday's $2-a-barrel rally. Prices yesterday were supported early by favorable economic data from China overnight but really began to take off with better than expected US economic data.

The spread between West Texas Intermediate and Brent crude has narrowed to around $19 a barrel after setting a new record yesterday at $22.50 as Brent rose to its best levels in five weeks. Some traders reportedly say the higher Brent crude oil prices are starting to underpin U.S. trade as well.

At 9 a.m.

JUL Crude ( NY ) $98.51 -0.86

Brent Crude (ICE) $117.36 -1.99

JUL Natural Gas ( NY ) $4.556 -0.025



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: NY

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