Market news
11.04.2012, 16:30

Oil rose after the U.S. Energy Department report

 

Oil rose after the U.S. Energy Department said that fuel stockpiles declined and as a European Central Bank official signaled the lender may act to stem the spread of the region’s debt crisis.

Futures climbed as much as 1.5 percent after the department reported that gasoline inventories fell 4.28 million barrels last week. Supplies of distillate fuel, a category that includes heating oil and diesel, dropped 4 million barrels. Distillate fuel inventories dropped to 131.9 million barrels, the lowest level since December 2008. Stockpiles were forecast to fall 250,000 barrels, the survey showed. Crude oil inventories rose 2.79 million barrels to 365.2 million, the department said. Supplies were forecast to increase 2 million.

Oil also gained after ECB Executive Board member Benoit Coeure suggested that the bank may restart bond purchases for Spain.

Crude oil for May delivery rose  to $102.75 a barrel on the New York Mercantile Exchange. Brent oil for May settlement decreased 24 cents to $119.64 a barrel on the London-based ICE Futures Europe exchange. The European benchmark contract was at a premium of $17.70 to New York futures. The spread narrowed $1.35 yesterday to $18.86.


 

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location