West Texas
Intermediate crude declined on the New York Mercantile Exchange, paring a sixth
consecutive weekly gain. Brent also slipped, narrowing a gain for the week.
WTI for
April delivery dropped 56 cents, or 0.5 percent, to $102.19 a barrel at 10:50
a.m. on the New York Mercantile Exchange. The volume of all futures traded was
27 percent below the 100-day average. Crude is up 1.9 percent this week and 10
percent in the past six weeks.
Brent for
April settlement slipped 48 cents, or 0.4 percent, to $109.82 on the
London-based ICE Futures Europe exchange. Prices are up 0.7 percent this week.
Trading was 37 percent lower than the 100-day average. The European benchmark crude
was traded at $7.63 premium to WTI, little changed from $7.55 yesterday.
WTI is set
for the longest run of weekly gains in a year with supplies falling at Cushing
and cold weather bolstering fuel demand. The opening of the Keystone XL
pipeline’s southern link in January eased a bottleneck in the central
WTI may
fall next week as stockpiles expand, a Bloomberg survey shows. Twenty-three of
28 analysts and traders, or 82 percent, said futures will decrease through Feb.
28. Four respondents expected prices to gain while one forecast there will be
little change.
© 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.