Wednesday, 22 May 2013 02:51
Posted by Imaduddin
NEW YORK: Crude prices fell on Tuesday, led lower by a sharp drop in US gasoline futures as traders bet the market would be well supplied this summer, and as an industry report showed rising fuel stockpiles in the world's largest oil consumer.After the market settled, the American Petroleum Institute said US crude oil stocks rose by more than 500,000 barrels last week, trumping analyst expectations for them to fall, while gasoline stocks jumped by 3 million barrels.Brent crude oil futures for July delivery ended the session 89 cents lower at $103.91 per barrel, after trading above $105 and to a low of $103.51.US June crude oil futures, which expired on Tuesday, finished 55 cents lower at $95.16 a barrel after trading between $95.50 and $96.97. The more heavily traded July contract ended 75 cents lower at $96.18 a barrel.After settlement, prices dipped slightly in electronic trading following release of ...
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NEW YORK: Crude prices fell on Tuesday, led lower by a sharp drop in US gasoline futures as traders bet the market would be well supplied this summer, and as an industry report showed rising fuel stockpiles in the world's largest oil consumer.After the market settled, the American Petroleum Institute said US crude oil stocks rose by more than 500,000 barrels last week, trumping analyst expectations for them to fall, while gasoline stocks jumped by 3 million barrels.Brent crude oil futures for July delivery ended the session 89 cents lower at $103.91 per barrel, after trading above $105 and to a low of $103.51.US June crude oil futures, which expired on Tuesday, finished 55 cents lower at $95.16 a barrel after trading between $95.50 and $96.97. The more heavily traded July contract ended 75 cents lower at $96.18 a barrel.After settlement, prices dipped slightly in electronic trading following release of ...
NEW YORK: Oil prices fell for the first time in five days Tuesday, the eve of Federal Reserve chief Ben Bernanke's highly anticipated testimony to Congress on the outlook for the US economy.The market also awaited the US Department of Energy's weekly report Wednesday on the nation's commercial petroleum reserves, whichhave hovered near record highs in recent weeks.New York's main contract, West Texas Intermediate light sweet crude for June, fell 55 cents to $96.16 a ...
NEW YORK: US natural gas futures rose more than 2 percent early on Monday as the return of weekday industrial demand brought with it warmer weather forecasts for the rest of the month.Futures extended Friday's big gains, which came after the Obama administration approved unrestricted natural gas exports from Freeport LNG's Texas terminal, the first liquefied natural gas project to be approved since the start of a heated debate over how best to benefit from ...
NEW YORK: US natural gas futures ended up sharply on Friday, backed by a late flood of buying ahead of the weekend despite fairly neutral weather forecasts that are not likely to stir up much demand.Gas prices sold off sharply on Thursday, sinking more than 3 percent after a bearish weekly inventory report.Chart traders said technical buying may have propped up prices on Friday, noting futures seem to have found a bottom after testing and ...
NEW YORK: World oil prices rose for the third day in a row Friday after a better-than-expected reading on US consumer confidence boosted hopes for stronger energy demand in the top global economy.The US benchmark contract, West Texas Intermediate for June delivery, rose 86 cents from Thursday to close at $96.02 a barrel.Brent North Sea crude for delivery in July also rose 86 cents, settling at $104.64 a barrel in London.A run of mixed US ...
