Tag Archives: WTI

Finally, oil prices slumped in the Lower USD100/Barel

Brent crude oil fell below $ 100 per barrel for the first time in a month. While West Texas Intermediate (WTI) declined amid speculation that the stock will go up, after the Organization of Petroleum Exporting Countries (OPEC) pledged continued to maintain its production.

At a meeting in Vienna on 31 May, the members of OPEC agreed to maintain production ceiling of 30 million barrels per day. Meanwhile, the crude oil inventories in the United States (U.S.), the biggest consumer of commodities increased 398 million barrels, the most since 1931.

“We are in a situation where the market is vulnerable to downside risks, as the supply situation with the market well covered,” said the head of CMC Markets analyst Ric Spooner.

Brent crude for July delivery fell 64 cents to USD99, 75 per barrel on the ICE Futures Europe exchange, based in London. Crude oil prices have experienced penrunan 2.2 percent last week and 1.9 percent in May.

While WTI for July delivery fell 71 cents to USD91, 26 per barrel in electronic trading on the New York Mercantile Exchange. Prices dropped 2.3 percent last week and 1.6 percent in May. As a result, the disparity between Brent and WTI crude oil closed down to $ 8, 13 per barrel, from the previous, $ 8, 42 per barrel.

WTI extended losses after failing to break resistance chart. Convergence-divergence indicator Crude oil also fell below zero for the first time in a month, oil has lost momentum shows technical.

In fact, most OPEC members expressed their support for maintaining WTI above $ 100 per barrel last week. Some, including Venezuela, voiced concern that excessive production by the other members will curb prices. OPEC itself, has been pumping about 1 million barrels per day.

Crude oil 'Burned' Decrease Stock

Benchmark price of crude oil the United States (U.S.) West Texas Intermediate (WTI) near the highest price in a week, because the data may show U.S. crude stockpiles shrank. Meanwhile, the Organization of Petroleum Exporting Countries (OPEC) will not raise its production quotas.

A report might Energy Information Administration showed crude supplies fell for a third week, its longest losing streak this year. On the other hand, OPEC will maintain production quota at 30 million barrels per day.

“We see inventory report for the week and that will tell us how U.S. consumers really need oil. Market also tends to focus on the upcoming OPEC meeting, and from there will not be any change,” said Fat Prophets analyst David Lennox.

WTI for July delivery fell 16 cents to USD94, 85 per barrel in electronic trading on the New York Mercantile Exchange. Trading volume that occurred was 45 percent below the average of 100 trading days. Prices are up 1.5 percent this month after losing 3.9 percent in April.

While Brent for July delivery was down 5 cents at USD104, 18 per barrel on the ICE Futures Europe exchange, based in London. As a result, the disparity Brent and WTI rose to USD9, 31 per barrel of USD9, 22 per barrel.

U.S. crude stockpiles probably fell 750 thousand barrels last week. Gasoline supplies probably fell 650 thousand barrels last week. Distillate stocks, including heating oil and diesel, are expected to increase 150 thousand barrels.

Economic growth in Japan 'Burn' Crude Oil

West Texas Intermediate crude oil (WTI) recorded a rise back to its highest level in a week. On signs global economic growth started to accelerate, has strengthened its fuel consumption.

A government report yesterday showed gross domestic product (GDP) grew 3.5 percent in Japan, and became the fastest growth occurring in a year.

“We saw some moderate excitement here. Traders focused on positive news at this time,” said the president of Strategic Energy & Economic Research Winchester, Michael Lynch.

WTI oil futures for June delivery rose 86 cents to USD96, 02 per barrel on the New York Mercantile Exchange, the highest close since May 10. All contracts traded volume was 3.4 percent above the average of 100 trading days.

Brent crude for July delivery rose 86 cents, or 0.8 percent to USD104, 64 per barrel on the ICE Futures Europe exchange, based in London. Volume for Brent contract 18 percent lower than the average 100 trading days.

As a result, the disparity between Brent and WTI back down to $ 8, $ 35 per barrel, after rising to $ 8, 64 per barrel. While the disparity narrowest recorded at 7.65 per barrel on May 13, the narrowest since January 2011.

Stock Rises, Crude Oil Low Level Approach

West Texas Intermediate crude oil traded near the lowest level since the government data showed crude inventories in the United States (U.S.) rose to its highest level since 1931.

Futures fluctuated in New York, after declining a third day yesterday, due to increased supply. U.S. crude inventories probably rose 450 thousand barrels to 396 million.

“We are in a situation where demand growth remains lackluster, nakun good news was covered by increased supply,” said CMC Markets market analyst Ric Spooner.

WTI futures for June delivery was up 32 cents to USD95, 49 per barrel in electronic trading on the New York Mercantile Exchange at 11:43 pm Sydney time. All contracts traded volume was 40 percent below the average of 100 days.

While the European crude benchmark, London-Brent, for June delivery rose 21 cents to USD103, 03 per barrel on the ICE Futures Europe exchange based in London.

As a result, the disparity between WTI crude oil closed with Brent narrowed to $ 7, 54 per barrel from $ 7, 65 per barrel, the narrowest disparity based on closing prices since January 2011.

U.S. Commerce Department figures showed U.S. retail sales rose 0.1 percent last month, compared with a revised 0.5 percent decline in March.

Follow Gold, Crude Oil Rebound Come

U.S. benchmark crude oil (U.S.) West Texas Intermediate (WTI) rose from its lowest level in nearly four months. An industry report showed U.S. stockpiles fell to show the lowest level this year.

WTI rose 0.4 percent in New York after reaching technical support levels. American Petroleum Institute (API) said U.S. crude stocks fell 6.7 million barrels last week, the most since December 28, and the first drop in four weeks.

A government report today may show supplies rose 1.2 million barrels, to its highest level in 22 years. On the other hand, crude oil also fell because the International Monetary Fund (IMF) cut its forecast for global economic growth in 2013.

“Recovery WTI at this stage can only be defined as a correction from a technical standpoint. General description of growth remains moderate and estimated in accordance with the IMF,” said Chief Market Analyst at CMC Markets, Ric Spooner, as quoted by Bloomberg, on Wednesday (17 / 4/2013).

WTI futures for May delivery rose 37 cents to USD89, 09 per barrel in electronic trading on the New York Mercantile Exchange. Trading volume of futures traded 37 percent below the average of 100 trading days.

While Brent for June delivery rose 40 cents to USD100, 31 per barrel on the ICE Futures Europe exchange, based in London, the lowest close since July 10. Widening disparity between the two back to USD11, 13 per barrel, from USD10, 88 per barrel yesterday.

Barclays Plc judge, Brent prices are unlikely to fall to USD90 per barrel to hedge because there among consumers to support the price of oil. Crude oil may not remain below $ 100 per barrel.

U.S. gasoline supplies rose 253 thousand barrels last week. Stocks slipped 800 thousand barrels estimated in a report today by the Energy Information Administration.

Crude Oil Falls Under USD100/Barel

Crude oil is really at its nadir. Brent for the first time fell below the level of USD 100 per barrel due to the global economic slowdown that fuel demand was predicted to be down.

Brent oil for June delivery fell $ 2, 63 on the ICE Futures Europe exchange, based in London and is USD98, 61. Trading volume was five times higher than an average of 100 days to the time of day. The contract for May fell $ 2, 72 to USD100, 39 per barrel.

Meanwhile, West Texas Intermediate (WTI) futures for May delivery fell $ 2, 65 and USD86, 06 per barrel in electronic trading on the New York Mercantile Exchange. Prices fell for a fourth day. Futures trading volume nearly four times higher than an average of 100 days. WTI contract fell $ 2, 58 to USD88, 71 yesterday or the lowest close since December 24, 2012.

“Confidence evaporates in the market. Market is starting to realize the geopolitical situation worse happening around the world so that no premiums are taken into account. WTI may even go down in the USD82 per barrel,” said Jonathan Barratt Chief Executive Bulletin Baratt, as quoted by Bloomberg.

Goldman Sachs Group even pulled his recommendation to hold the oil in the long run. Because, since taking the oil from August, oil has lost nearly 16 percent.

American Petroleum Institute will release oil inventory figures today. To date, gasoline prices eceren down to $ 3, 542 per gallon. This price is the lowest price in three years.

Number of manufacturing in New York increased, though still below the market expectations. Meanwhile, the Fed reported that New York’s general economic index dropped to 3.1 months from 9.2 in March.

While China’s gross domestic product in the first quarter was up 7.8 percent from the previous year. However, the market predicts that China’s economy could grow eight percent.

Oil WTI and Brent are both firmer

West Texas Intermediate (WTI), the benchmark crude oil aka the United States (U.S.), traded near the highest level weekly. In fact, U.S. crude stockpiles probably increased most in more than two decades.

WTI was little changed in New York, after rising 0.7 percent yesterday, the most in two weeks. U.S. crude oil stocks rose 1.5 million barrels in the seven days up to 5 April of 390 million. Inventories rose to its highest level since July 1990.

WTI futures for May delivery rose 4 cents to USD93, 40 per barrel in electronic trading on the New York Mercantile Exchange. The volume of all traded futures are trading 74 percent below the average of 100 days.

Meanwhile, the European crude benchmark, London Brent futures for May delivery rose 54 cents to USD104, 66 per barrel on the ICE Futures Europe exchange, based in London yesterday. The disparity between the two comes down to USD11, 30 per barrel.

U.S. crude oil stocks rose after Exxon Mobil Corp. shut the Pegasus pipeline, moving oil from Illinois to refineries in the Gulf Coast. Exxon has not said when it will reopen.

Gasoline inventories probably fell 1.8 million barrels last week, while distillate inventories, a category that includes heating oil and diesel, probably fell by 1.7 million, according to the median estimate of eight analysts.

Added Arab Supply, Crude Oil Jump 'cools'

Crude oil from the United States (U.S.) West Texas Intermediate (WTI) declined from the highest level. This is because Saudi Arabia to increase production, and the prospects for conflict resolution on Iran nuclear program has improved.

WTI has declined as much as 0.4 percent after it had gained 1.4 percent last week, the biggest gain in a month. In February, noted Saudi Arabia’s crude oil production reached its lowest level 20 monthly.

Saudi Arabia will increase crude oil production in February reached 9.15 million barrels per day, an increase of 100 thousand barrels from the previous month, the Persian Gulf official said, asking not to be identified because the information is confidential.

On the other hand, Iran is experiencing sanctions from Western countries to export energy as uranium enrichment, get fresh air as Foreign Minister Ali Akbar Salehi agreed to hold a renegotiation.

“It helped to raise expectations for the next round, and may help in taking some off the side of the oil prices,” said the head of Dubai-based consultancy Manaar Energy Consulting and Project Management, Robin Mills, as quoted by Bloomberg, on Monday (11/3/2013 ).

WTI for April delivery fell 35 cents to USD91, 60 per barrel in electronic trading on the New York Mercantile Exchange. Volume WTI traded 69 percent below the average of 100 trading days.

However, WTI still rose 39 cents to USD91, 95 per barrel on March 8, the highest close since Feb. 28. Prices are down 0.2 percent this year.

Meanwhile, the European crude benchmark, London Brent for April delivery fell 36 cents to USD110, 49 per barrel on the London-based Futures Europe exchange ICE. Disparities between Brent to WTI closed at USD18, 86 per barrel.

Turn of WTI Crude Oil Up, Brent Even Weaker

Benchmark crude oil price the United States (U.S.), West Texas Intermediate (WTI) fluctuated after a record weekly rise the highest. Enterprise Products Partners LP said oil shipments from the Seaway pipeline will rise, due to flooding in the U.S. Midwest.

WTI has recorded an increase of 0.8 percent in New York yesterday, the most since February 11. Senior vice president at Enterprise, William Ordemann, explains, Seaway pipeline shipments will grow an average of 295 thousand barrels per day from February to May, up from 180 thousand barrels in January.

“The market is stuck in the range of USD98 per barrel oil price, and can not penetrate the topside of USD98, 30 per barrel. People want to be optimistic that things are going well, but it shows we have a lot of supply of oil reserves,” said the chief executive of Barratt Bulletin, Jonathan Barratt, as quoted by Bloomberg, on Wednesday (20/02/2013).

WTI for delivery in March, gained 15 cents to USD96, 81 per barrel in electronic trading on the New York Mercantile Exchange, after yesterday rose 80 cents to USD96, 66 per barrel. As for April delivery rose 11 cents to USD97, 21 per barrel. Trading volume rose six per cent above the average of 100 days.

While the European crude benchmark, London Brent for April delivery fell 5 cents to USD117, 47 per barrel, on the London-based trade ICE Europe exchange. Trading volume occurs 70 percent below the 100-day average trading. Disparities second pengirmian crude for March closed at USD20, 26 per barrel, from USD20, 42 per barrel.

U.S. crude supplies probably rose two million barrels to 374 million barrels, according to the median estimate of nine analysts in a Bloomberg survey. While gasoline stockpiles probably fell 900 thousand barrels.