Brent physical oil benchmark at record $10 discount to futures
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LONDON (Reuters) - The Brent crude oil benchmark, used to price more than half the world's physical crude cargoes, has dropped to a new record discount to Brent oil futures at about a $10 per barrel, highlighting the overwhelming glut in world markets. The benchmark, known as dated Brent, was just $15 a barrel on Wednesday after the Brent futures contract, a financial instrument used to trade oil prices, settled at $24.74 a barrel, according to Refinitiv data.Different commodity pricing agencies..