Following are comments from Jonathan Barratt, managing director at Commodity Broking Services Pty. in Sydney, on the outlook for a Group of 20 farm ministers meeting in Paris today. He spoke to Linzie Janis on Bloomberg Television’s “First Look.”
West Texas Intermediate traded near a four-week high amid speculation that crude supplies will shrink further at Cushing, the biggest U.S. oil-storage hub. Brent was steady in London after Libya’s government offered concessions to defuse renewed tensions.
Brent crude traded at a nine-month high as Iraqi forces battled insurgents north of Baghdad. West Texas Intermediate rose for the first time in four days after a government report showed U.S. crude supplies shrank.