Timespreads for West Texas Intermediate (WTI) and Brent futures have strengthened significantly over the last month as fears about another big build up in crude oil stocks eased. The discount for WTI delivered in November 2015 rather than May 2016 has shrunk from $3.33 per barrel to $2.75 since Sept. 14. The discount for Brent has narrowed even more, from $4.50 to just $3.00 ( link.reuters.com/haz75w ). Between June and August, spot prices and timespreads for both major crude benchmarks tumbled as traders worried about another big build in stockpiles after the end of the U.S. driving season. Spot prices and timespreads have been […]