Oil futures settled Wednesday at another high for the year, after U.S. government data showed a fall in weekly domestic crude production for a sixth straight week.Prices had seen sharp losses early in the session, pressured after Kuwait oil workers ended a strike that had reduced the country’s crude output over the last three days. U.S. data, meanwhile, revealed a climb in weekly crude inventories, but the figure came in below what was reported by a trade group.
West Texas Intermediate crude oil for May CLK6, +4.04% which expired at Wednesday’s settlement, tacked on $1.55, or 3.8%, to settle at $42.63 a barrel on the New York Mercantile Exchange. It was trading around $40.10 before the supply data. The June contract CLM6, -0.61% added $1.71, or 4%, to end at $44.18. Prices haven’t settled at levels this high since November.
June Brent crude LCOM6, -0.52% on London’s ICE Futures exchange rose $1.77, or 4%, to $45.80 a barrel.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment