Futures Markets
Nymex rises on diesel and jet fuel supply concerns
Crude oil prices rose during the week, coming to within $4 of historic high prices reached earlier this year as speculators worried about possible short supplies later in the year.
In mid-day trading in New York on Friday, Nymex West Texas Intermediate had risen 87 cents on the day to $54.50 per barrel, bringing the increase for the week to 5.4 percent.
Meanwhile, Brent crude oil was up 6.2 percent for the week to $53.55 per barrel.
The concerns over short supplies were not curtailed by the fact that new weekly US department of energy inventory figures reported stockpiles at near six-year highs and gasoline inventories up on refinery output that is 96.2 percent of capacity and crude oil inventories higher as imports grew to 10.7 million barrels a day.
The biggest concerns were over distillates such as jet and diesel fuel, where inventories were only slightly up as demand had grown by 5 percent over last year’s figures for the same period. Gasoline demand, on the other hand, was only 1 percent higher than last year, possibly due to current high pump prices.
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Nymex rises on diesel and jet fuel supply concerns
Crude oil prices rose during the week, coming to within $4 of historic high prices reached earlier this year as speculators worried about possible short supplies later in the year.
In mid-day trading in New York on Friday, Nymex West Texas Intermediate had risen 87 cents on the day to $54.50 per barrel, bringing the increase for the week to 5.4 percent.
Meanwhile, Brent crude oil was up 6.2 percent for the week to $53.55 per barrel.
The concerns over short supplies were not curtailed by the fact that new weekly US department of energy inventory figures reported stockpiles at near six-year highs and gasoline inventories up on refinery output that is 96.2 percent of capacity and crude oil inventories higher as imports grew to 10.7 million barrels a day.
The biggest concerns were over distillates such as jet and diesel fuel, where inventories were only slightly up as demand had grown by 5 percent over last year’s figures for the same period. Gasoline demand, on the other hand, was only 1 percent higher than last year, possibly due to current high pump prices.
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Related news to Nymex rises on diesel and jet fuel supply concerns
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Previous: « US inventory increase defies markets
Next: Barrel price down but expected to remain high »
Visited 2257 times, 1 so far today
Nymex rises on diesel and jet fuel supply concerns
Crude oil prices rose during the week, coming to within $4 of historic high prices reached earlier this year as speculators worried about possible short supplies later in the year.
In mid-day trading in New York on Friday, Nymex West Texas Intermediate had risen 87 cents on the day to $54.50 per barrel, bringing the increase for the week to 5.4 percent.
Meanwhile, Brent crude oil was up 6.2 percent for the week to $53.55 per barrel.
The concerns over short supplies were not curtailed by the fact that new weekly US department of energy inventory figures reported stockpiles at near six-year highs and gasoline inventories up on refinery output that is 96.2 percent of capacity and crude oil inventories higher as imports grew to 10.7 million barrels a day.
The biggest concerns were over distillates such as jet and diesel fuel, where inventories were only slightly up as demand had grown by 5 percent over last year’s figures for the same period. Gasoline demand, on the other hand, was only 1 percent higher than last year, possibly due to current high pump prices.
Add to Bookmarks:
Related news to Nymex rises on diesel and jet fuel supply concerns
No Comments
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Sorry, the comment form is closed at this time.
Previous: « US inventory increase defies markets
Next: Barrel price down but expected to remain high »
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