Daily Oil Market News
 
Daily Oil Prices & Futures News on the Blackstuff
Monday 15th of March 2010
10/6/2009

WTI gains after EIA inventories report

Story link: WTI gains after EIA inventories report by Elaine Frei
WTI gains after EIA inventories report

Prices for July contracts for West Texas Intermediate crude were at $71.79 per barrel in the day’s session before easing back to trade 74 cents above Tuesday’s close to $70.75 per barrel about half an hour before the close of trade on the New York Mercantile Exchange.

The gains came after the US Energy Information Administration said that inventories of crude oil fell by 4.4 million barrel in the week ending 5 June to 361.6 million barrels, largely due to declines in imports and still 59.4 million barrels above stockpiles last year at this time.

At last report, Brent crude was 85 cents higher to $70.47 per barrel on the ICE Futures Europe exchange in London.

At the same time, gasoline inventories fell by 1.6 million barrels last week as output by refiners fell and demand grew, while distillates in storage dropped by 300,000 barrels.

In afternoon trade, Nymex July gasoline futures were up 3 cents to $2.00 per gallon.

Nymex July heating oil added 2 cents during the session to $1.83 per gallon while July natural gas declined 2 cents to $3.72 per million British thermal units.

 

Add to Bookmarks:

ADD TO NETSCAPE     ADD TO DEL.ICIO.US     ADD TO DIGG     ADD TO FURL

ADD TO STUMBLEUPON     ADD TO YAHOO MYWEB     ADD TO GOOGLE     ADD TO SPURL


Related news to WTI gains after EIA inventories report







No Comments

No comments yet.

Sorry, the comment form is closed at this time.


Previous: « WTI closes above $70 per barrel
Next: Crude prices gain on IEA demand forecast »

Visited 2035 times, 2 so far today