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Bloomberg (04/12) - Futures gained as
much as 0.9 percent in New York after the American Petroleum Institute
in Washington said U.S. crude supplies slumped by 12.4 million barrels
last week.
An Energy Information Administration report today will probably show inventories dropped by 500,000 barrels, according to a Bloomberg News survey. The Organization of Petroleum Exporting Countries meets today in Vienna to discuss its production quota, which is forecast to remain unchanged. WTI for January delivery rose as much as 89 cents to $96.93 a barrel in electronic trading on the New York Mercantile Exchange, and was at $96.85 at 10:45 a.m. Sydney time. The contract increased $2.22, or 2.4 percent, to $96.04 yesterday, the highest close since Oct. 31. The volume of all futures traded was about 35 percent above the 100-day average. Brent for January settlement gained $1.17, or 1.1 percent, to $112.62 a barrel on the London-based ICE Futures Europe exchange yesterday. The European benchmark crude ended the session at a premium of $16.58 to WTI futures. WTI advanced the most since September yesterday after TransCanada Corp. said it will begin operating the southern leg of its Keystone XL pipeline to the Gulf Coast in January. TransCanada plans to start deliveries Jan. 3 to Port Arthur, Texas, via the segment of the Keystone expansion project from Cushing, Oklahoma, according to a government filing. Cushing is the delivery point for WTI futures. http://www.bloomberg.com/news/2013-12-04/wti-oil-advances-a-fourth-day-as-u-s-crude-stockpiles-decline.html |
Written by: Kontak Perkasa Futures
PT.Kontak Perkasa Futures, Updated at: 9:42 AM
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