The premium of Brent crude oil futures to U.S. WTI oil prices reached its narrowest since the start of the year on Tuesday, driven by expectations for lower U.S. production over the coming months. The Brent/WTI spread touched $2.00 a barrel, the smallest gap between the two contracts since January, before easing back a touch to $2.19 by 1303 GMT. The front-month Brent futures contract, which expires later on Tuesday, was up 33 cents on the day at $46.7 a barrel, while WTI futures were up 51 cents at $44.51. Both benchmarks have lost roughly half their value over the last year, under pressure from rising global supply and faltering demand from key consumers such as China. Key forecasters have this week predicted a decline in U.S. output next year, particularly from higher-cost shale producers.