WTI Crude Trades Near Five-Week Low as Fuel Supplies Seen Rising
Selasa, 07 Januari 2014
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Berita Jalatama, West
Texas Intermediate crude traded near the lowest price in more than five weeks
amid speculation distillate and gasoline stockpiles increased in the U.S., the
world’s biggest oil consumer.
Futures
were little changed in New York after declining the past five days, the longest
losing streak since September. Distillate inventories, including heating oil
and diesel, probably rose 2 by million barrels last week, a Bloomberg News
survey shows before Energy Information Administration data tomorrow. U.S.
service industries expanded at a slower pace than forecast in December,
according to a purchasing managers’ index from the Institute for Supply
Management. Brent crude also slid for a fifth day yesterday.
WTI
for February delivery was at $93.63 a barrel in electronic trading on the New
York Mercantile Exchange, up 20 cents, at 12:26 p.m. Sydney time. The contract
fell 0.6 percent to $93.43 yesterday, the lowest close since Nov. 29. The
volume of all futures traded was about 40 percent below the 100-day average.
Prices dropped 6.9 percent in the past five days.
Brent
for February settlement gained 32 cents to $107.05 a barrel on the London-based
ICE Futures Europe exchange. The European benchmark crude was at a premium of
$13.42 to WTI. The spread widened for a fifth day yesterday to close at $13.48.
U.S.
gasoline stockpiles probably climbed by 2.5 million barrels in the week ended
Jan. 3, according to the median estimate of six analysts surveyed before
tomorrow’s report from the EIA, the Energy Department’s statistical arm. That
would be the sixth increase in seven weeks.
(Source: Bloomberg)
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Judul: WTI Crude Trades Near Five-Week Low as Fuel Supplies Seen Rising
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