Oil prices continued to decline during most of last week. The Brent premium over WTI slightly rose again to $17-$18 range. During the upcoming week there are several publications that may affect the oil market including the U.S non-farm payroll, pending home sales, EU monetary development, U.S GDP for Q1 2012 and U.S jobless claims.
By Friday, May 25th crude oil price (WTI) edged up by 0.28% and reached $90.66/b; Brent oil also edged up by 0.1% to $107.95/b; during last week, WTI spot oil declined by 0.9% and Brent oil by 0.03%.
The difference between Brent oil and WTI spot oil slightly increased during last week, and was in the range of $17-$18 per barrel. During May the premium increased by 16.82%.
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