Oil Falls Below $104 A Barrel As Inventories Rise
Oil prices on Thursday shed some of the previous day's media gains after a report showed a bump up in U.S. crude inventories .
Benchmark oil for November delivery was up 41 cents to $ 103.69 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange.
A report from the American Petroleum Institute showed an increase in oil supplies for the week ending 27 September . Shares rose by 356,000 barrels to 363.7 million barrels in the prior week, . A slowdown in demand
The price of oil rose the most in two weeks Wednesday, on the prospect of more oil shipping between a major U.S. Midwest hub and the Gulf Coast. The contract jumped $ 2.06 , or 2 percent, to close on Wednesday $ 104.10 on the Nymex .
Reports say that Trans Canada on the southern portion of the Keystone pipeline expansion is nearing completion of the work. That could mean as much as 700,000 barrels per day moved from Cushing , Oklahoma, the pricing point for U.S. oil benchmark. The additional demand is likely to increase the price of oil kept everything else the same.
Brent oil , a benchmark used to price oil imported used by many U.S. refineries by 25 cents to $ 108.94 in London.
In other energy futures trading on the Nymex :
- Wholesale gasoline was almost unchanged at $ 2.63 per gallon.
- Natural gas rose 0.4 percent to $ 3.546 per 1,000 cubic feet .
- Heating oil fell 0.3 percent to $ 2.99 per gallon.
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Benchmark oil for November delivery was up 41 cents to $ 103.69 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange.
A report from the American Petroleum Institute showed an increase in oil supplies for the week ending 27 September . Shares rose by 356,000 barrels to 363.7 million barrels in the prior week, . A slowdown in demand
The price of oil rose the most in two weeks Wednesday, on the prospect of more oil shipping between a major U.S. Midwest hub and the Gulf Coast. The contract jumped $ 2.06 , or 2 percent, to close on Wednesday $ 104.10 on the Nymex .
Reports say that Trans Canada on the southern portion of the Keystone pipeline expansion is nearing completion of the work. That could mean as much as 700,000 barrels per day moved from Cushing , Oklahoma, the pricing point for U.S. oil benchmark. The additional demand is likely to increase the price of oil kept everything else the same.
Brent oil , a benchmark used to price oil imported used by many U.S. refineries by 25 cents to $ 108.94 in London.
In other energy futures trading on the Nymex :
- Wholesale gasoline was almost unchanged at $ 2.63 per gallon.
- Natural gas rose 0.4 percent to $ 3.546 per 1,000 cubic feet .
- Heating oil fell 0.3 percent to $ 2.99 per gallon.
trifid research is based market research advisor For Stock ,Forex Commodity Company in India, provide Share trading, Future trading, equity trading, intraday trading, Option Trading, Commodity Market trading for MCX trading, forex trading,comex trading, bullion trading, metal trading , base metals, precious metals trading ,Ncdex Market Trading For Ncdex trading, Agri trading,Forex market Trading for forex trading, currency trading. Get 2 days free trial to share trading, nifty trading, Commodity Trading,Mcx Trading, Free Ncdex Trading,Forex Trading ,free trial, intraday stock trading, Free MCX Trading free intraday with 90-95% accuracy. http://www.trifidresearch.com Call us 731 663 1000, 887 899 8007
FOR MORE DETAIL JUST VISIT http://www.trifidresearch.com/free-trial-form.php OR CALL ON 887 899 800
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