UPDATE 8-U.S. crude soars to 16-mth high; discount to Brent under $2

... weeks of draws suggest that supplies seem to be tightening," said Gene McGillian, analyst at Tradition Energy in Stamford, Connecticut. U.S. crude has outperformed Brent for nine out of the past ten sessions, narrowing their spread to a 2-1/2 ...

http://www.reuters.com/article/2013/07/10/markets-oil-idUSL4N0FG11G20130710?feedType=RSS&feedName=industrialsSector