Market news
15.11.2012, 16:40

Oil futures were little changed after data of Energy Department

 

Oil futures were little changed after the U.S. government reported inventories increased less than forecast and gasoline demand reached a 10-week high.

Crude traded in a $1.07-a-barrel range after the Energy Department said supplies gained 1.09 million barrels last week to 375.9 million, the highest level since July. Stockpiles were forecast to gain 2.65 million barrels, according to the median of 10 analyst estimates. Gasoline demand rose to 8.91 million barrels a day.

Oil rose in early trading on concern that escalating Middle East tension will disrupt supplies and as the euro strengthened against the dollar. Israel and Palestinian militants in the Gaza Strip exchanged rocket fire and airstrikes a day after Israel killed Ahmed al-Jabari, the leader of Hamas’s military wing.

Futures pared gains as more Americans than forecast submitted claims for unemployment insurance last week and manufacturing in the New York region contracted.

Applications for jobless benefits surged by 78,000 to 439,000 in the week ended Nov. 10, the most since April 2011, the Labor Department reported. Several states said the increase was due to the storm that hit the Northeastern part of the U.S. in late October, a Labor Department spokesman said.

The Federal Reserve Bank of New York’s general economic index was minus 5.2 this month after minus 6.2 in October. Readings of less than zero signal contraction in New York, northern New Jersey and southern Connecticut.

Crude oil for December delivery fell to $85.76 a barrel on the New York Mercantile Exchange.

Brent crude for December settlement, which expires today, gained $1.22, or 1.1 percent, to $110.83 a barrel on the London- based ICE Futures Europe exchange. The more actively traded January contract gained 37 cents to $108.85.


 

 


 

© 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