West
Texas Intermediate advanced for the third time in four days after
industry data showed crude stockpiles declined in the U.S., the world��s
biggest oil user. Brent in London was steady.July futures rose as much as 0.6 percent in New York. Crude supplies shrank by 10.3 million barrels last week, the American Petroleum Institute said yesterday. A government report today will probably show inventories unchanged near a record high, according to a Bloomberg News survey. Russia said its troops are pulling back from Ukraine��s border, as Prime Minister Dmitry Medvedev warned the U.S. and the European Union they risk provoking a new Cold War.
WTI for July delivery rose as much as 65 cents to $102.98 a barrel in electronic trading on the New York Mercantile Exchange and was at $102.87 at 10:17 a.m. Sydney time. The volume of all futures traded was about 33 percent below the 100-day average. The June contract expired yesterday after dropping 17 cents to $102.44, the lowest since May 16.
Brent for July settlement gained 7 cents to $109.76 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude was at a premium of $6.89 to WTI. It ended the session at $7.36 yesterday.
Crude supplies at Cushing, Oklahoma, the delivery point for New York futures, dropped by 261,000 barrels during the week ended May 16, the API said. Stockpiles have decreased as the southern leg of the Keystone XL pipeline began moving oil to Gulf Coast refineries from storage in January.
Source : Bloomberg
0 komentar :
Post a Comment