ARB

Sewald, who is in his second year of arb eligibility, also agreed to a $4.1 million contract.

United Arb Emirates' Junaid Siddique hits a 109-metre six out of the ground at the Kardinia Park in Geelong, Australia during their 79-run defeat to Sri Lanka at the T20 World Cup.

The deal has been called “an arb trader’s dream,” given the frenetic pace of news revelations that affect the company’s stock price.

"If the arb gets back to minus $10, then we should see more exports, but I have not seen or heard of any big export deals," one U.S. broker said on the condition of anonymity, adding that rising tanker rates also limited exports.

Meanwhile, the spread between WTI and Brent futures , called the arb, shrank to minus $7 a barrel from roughly minus $11 on Friday, discouraging foreign buyers of U.S. barrels.