{"id":10843,"date":"2010-05-14T09:24:03","date_gmt":"2010-05-14T07:24:03","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/10843\/brent-oil-price-hangs-at-80-big-premium-on-wti-crude\/"},"modified":"2010-05-14T09:24:03","modified_gmt":"2010-05-14T07:24:03","slug":"brent-oil-price-hangs-at-80-big-premium-on-wti-crude","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/10843\/brent-oil-price-hangs-at-80-big-premium-on-wti-crude\/","title":{"rendered":"Brent oil price hangs at $80, big premium on WTI crude"},"content":{"rendered":"

Brent oil prices are hanging around the $80 mark in trading on Friday as Brent\u2019s premium to WTI crude is at the highest level in nine months.<\/p>\n

In London, Brent crude oil futures was trading slightly down by 34 cents to $79.77 on the ICE Futures Exchange.<\/p>\n

“The price of oil is currently fighting a losing battle against the dollar and the equities markets,” said Mike Sander of Sander Capital.<\/p>\n

Crude prices have fallen about 15 percent from early last week as the dollar gained amid a debt crisis in Europe. A stronger dollar makes oil more expensive for investors with other currencies.<\/p>\n

June crude oil futures expire next week, so traders are dumping the contract to avoid the prospect, however unlikely, of having to accept physical crude deliveries at a point where there’s dwindling storage space.<\/p>\n

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