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West Texas Intermediate posts

Brent Crude Oil Trading at $98.00 per Barrel

Posted Jan 12th 2011 12:00PM by Connie Madon (RSS feed)
Filed under: International Markets, Analyst Reports, Industry, Oil

oil pipeline The story of the day is about oil. February contracts for Brent crude are trading at $98.03 per barrel, up 74 cents as of 10:15 a.m. EDT. The U.S. benchmark West Texas Intermediate crude (WTI) is trading at $91.85 per barrel, up 42 cents. Brent crude is used primarily in Europe. The drive to $100 per barrel is due in part to severe winter conditions in Europe.

Here in the U.S., the Alaskan Pipeline, which has been closed since Saturday, has reopened but at a reduced rate. U.S. stockpiles fell 1.4 million barrels from, 335.3 million in the week ended January 7. This data was based on 17 analysts polled by Bloomberg News.

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What is fueling the oil rally to $66.00 per barrel?

Posted May 29th 2009 6:20PM by Connie Madon (RSS feed)
Filed under: International Markets, Forecasts, Indices, Commodities, Oil

What is happening in the oil patch? Oil had its strongest monthly gain in 10 years following OPEC's upbeat assessment of demand.

On the NYMEX, July West Texas Intermediate hit a seven month high of $66.47 per barrel. US crude has risen 29% in May, the best monthly gain since 1999. On the ICE exchange Brent crude rose 78 cents to $64.15 per barrel, up 7.2% for the week.

Continue reading What is fueling the oil rally to $66.00 per barrel?