WTI Rises for Second Day as U.S. Crude Stockpiles Seen Declining
Rabu, 08 Januari 2014
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Jalatama, West
Texas Intermediate rose for a second day on speculation government data will
show crude stockpiles dropped for a sixth week in the U.S., the world’s biggest
oil consumer.
Futures
climbed as much as 0.4 percent in New York. Crude inventories declined by 2.75
million barrels last week, according to a Bloomberg News survey before an
Energy Information Administration report today. Supplies fell by 7.31 million,
the industry-funded American Petroleum Institute said yesterday. The coldest
U.S. weather in almost 20 years also signaled fuel demand may increase.
WTI
for February delivery increased as much as 40 cents to $94.07 a barrel in
electronic trading on the New York Mercantile Exchange, and was at $93.87 at 1
p.m. Sydney time. The contract advanced 24 cents to $93.67 yesterday. The
volume of all futures traded was about 48percent below the 100-day average.
Brent
for February settlement gained 1 cent to $107.36 a barrel on the London-based
ICE Futures Europe exchange. The European benchmark crude was at a $13.49
premium to WTI. The spread closed at $13.44 yesterday, narrowing for the first
time in six days.
(Source: Bloomberg)
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