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Wednesday, February 24, 2016

Oil settles higher after volatile session

Posted by PT KONTAK PERKASA FUTURES BALIKPAPAN On 5:09 PM No comments

Oil futures finished higher after a volatile session on Wednesday, finding support from a weekly decline in U.S. crude production, as strong demand for gasoline pointed to a possible rise in demand for oil to make the fuel.
A bigger-than-expected weekly increase in U.S. crude supplies, however, helped limit the gains for oil prices, however. April West Texas Intermediate crude CLJ6, +1.16% added 28 cents, or 0.9%, to settle at $32.15 a barrel on the New York Mercantile Exchange. Prices traded between a low of $30.56 and a high of $32.36 during the session.
Source: Marketwatch

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