U.S. crude’s second-month premium to first hits 5-month low
By: Reuters | May 29 2015 at 09:35 AM | International Trade
The premium for U.S. crude oil’s nearest contract to prompt delivery hit its lowest in five months on Friday, indicating concerns of oversupply.
The August contract for the New York-traded West Texas Intermediate crude was higher by 29 cents versus prompt July at 9:23 a.m. EDT (1323 GMT). That was the lowest for the premium, known as contango, since Dec. 19.