- Analytics
- News and Tools
- Market News
- Oil pared losses
Oil pared losses
West Texas
Intermediate crude pared losses after the government reported
Prices
rebounded to near a six-week high after declining 0.9 percent. The Energy
Information Administration said supplies dropped 10.6 million barrels in the
week ended Dec. 6. Analysts surveyed by Bloomberg had forecast a decrease of 3
million. The International Energy Agency raised estimates for 2014 global oil
demand amid an economic recovery in the
WTI for
January delivery slipped 37 cents, or 0.4 percent, to $98.14 a barrel at 10:43
a.m. on the New York Mercantile Exchange. It traded at $97.82 before the report
and rebounded to $98.34 immediately after. The contract climbed to $98.51
yesterday, the highest settlement since Oct. 28. The volume of all futures
traded was 1.8 percent below the 100-day average.
Brent for
January settlement decreased 34 cents, or 0.3 percent, to $109.04 a barrel on
the London-based ICE Futures Europe exchange. The European benchmark crude was
at a premium of $10.90 to WTI. The spread was $10.87 yesterday, the narrowest
since Nov. 8 based on closing prices.
© 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.
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.
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
