Americas
Friday, 17 May 2013 03:56
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NEW YORK: Oil prices climbed Thursday despite largely disappointing US data in the world's biggest economy.New York's main contract, West Texas Intermediate for June delivery, closed at $95.16 a barrel, up 92 cents from Wednesday.The European benchmark, Brent North Sea crude for delivery in June, edged up 12 cents to $103.80 a barrel in its final day of trade in London."On the data front, there was no shortage of disappointing news today, although much of this was again shrugged off," said Fawad Razaqzada, technical analyst at traders GFT Markets.US weekly claims for unemployment insurance benefits jumped and housing starts plunged in April, but a spike in building permits led analysts to view the decline in starts as a temporary bump in the housing market recovery.David Bouckhout of TD Securities said the price of WTI was helped by a narrowing of the spread between WTI and Brent prices that added "some ...
NEW YORK/LONDON: Brent crude oil futures rose on Thursday on dollar declines, but gains were capped by a stall in the US equity market as a jump in US jobless claims stoked investor worry about an economic recovery.Initial claims for state unemployment benefits jumped by a bigger than expected 32,000 in the latest week to a seasonally adjusted 360,000, the US Labor Department said on Thursday, in the biggest rise since November."What's keeping a cap ...
NEW YORK: Front-month US natural gas futures ended down sharply on Thursday after a government report showed another weekly inventory build above market expectations.The US Energy Information Administration said total domestic gas inventories rose last week by 99 billion cubic feet to 1.964 trillion cubic feet.Most traders viewed the build as bearish, noting it came in above the Reuters poll estimate of 95 bcf and well above the five-year average increase for that week of ...
NEW YORK: Cash crude differentials in the United States were mixed on Thursday as the transatlantic spread between Brent and US crude futures seesawed before narrowing and ending back below $9 a barrel, traders and broker said.In the futures market, Brent's premium to US crude ended at $8.64 a barrel based on June contract settlements. It ended on Wednesday at $9.38 after a close at $7.65 on Monday, the lowest the Brent premium has been ...
NEW YORK: US spot natural gas prices rose for a second straight day on Wednesday, boosted by warmer weather on tap for much of the nation after a cool start to the week in the Northeast.The Weather Channel's weather.com said temperatures in the Northeast would be much warmer on Thursday, climbing into the 80s and even 90s Fahrenheit (high 20s to 30s Celsius) in some mid-Atlantic regions, a far cry from frost conditions that hit ...
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