 "US crude down, Brent up as world reacts to Saudi king's death")
US crude fell modestly on Friday while global Brent gained support from market uncertainty over the future of Saudi oil production following King Abdullah Bin Abdulaziz's death.
Reports of a partial shutdown at BP's oil refinery in Whiting, Indiana, added weight to a bearish US market which saw heavy losses a day ago, when the Energy Information Administration announced the largest build in crude inventory in at least 14 years.
Brent was up 30 cents at $48.82 by 11:20 am EST (1620 GMT), while US crude fell 21 cents to $46.10. The spread between the two benchmarks widened to as much as $3.27, the largest in 12 days.
Reports of a partial shutdown at BP's oil refinery in Whiting, Indiana, added weight to a bearish US market which saw heavy losses a day ago, when the Energy Information Administration announced the largest build in crude inventory in at least 14 years.
Brent was up 30 cents at $48.82 by 11:20 am EST (1620 GMT), while US crude fell 21 cents to $46.10. The spread between the two benchmarks widened to as much as $3.27, the largest in 12 days.