NEW YORK: Crude oil in New York declined, widening its discount to Brent crude, on speculation that the reversal of the Seaway pipeline won't be enough to eliminate a glut in the US Midwest.
Showing posts with label Oil traded. Show all posts
Showing posts with label Oil traded. Show all posts
Monday, November 21, 2011
Wednesday, October 19, 2011
Oil Trades Near Highest Price in a Month After Goldman Cites ‘Upside Risk’
Oil traded near the highest price in more a month after Goldman Sachs Group Inc. predicted “upside” potential, amid signs U.S. crude stockpiles are increasing less rapidly than previously forecast.
Futures were little changed after advancing 2.3 percent yesterday. Energy Department data today may show that supplies climbed 2 million barrels. Yesterday’s report by the industry- funded American Petroleum Institute indicated they dropped for a third week. Goldman Sachs said in a report an improving economic outlook in Europe and declining crude supplies may present “a real upside risk” to Brent prices.
Futures were little changed after advancing 2.3 percent yesterday. Energy Department data today may show that supplies climbed 2 million barrels. Yesterday’s report by the industry- funded American Petroleum Institute indicated they dropped for a third week. Goldman Sachs said in a report an improving economic outlook in Europe and declining crude supplies may present “a real upside risk” to Brent prices.
Subscribe to:
Posts (Atom)