Traders say Libya, Nigeria and Kazakhstan add to oversupply Brent crude time-spreads weaken to levels seen in February Listen to Saudi Arabia and hear the oil market is rebalancing. Look at the screen, and Brent is indeed holding above $50 a barrel. But dig deeper into the world of physical oil, and bearish signals abound, at least in the European market that helps dictate global prices. The price difference between Brent crude for delivery in two months and three months — a yardstick telling traders how well supplied the market is — widened to minus 69 cents on Thursday, the biggest discount since February. Back then, the headline price for the grade was barely above $35 a barrel. The weakness in the so-called time-spreads for Brent contrasts with a rally in headline prices above $50 a barrel as speculators bought in after OPEC surprised traders by announcing the outline […]