johneslidoThe Brent towards $124 | Micron Associates: Headlines
Posted by johneslido (micronassociates.org) 37 days ago under micron associates news blog spain hong kong latest news updates the brent towards -124 -micron associates-head
The Brent towards $124
Posted by micronassoc on May 9, 2012 in Economic | SINGAPORE (Reuters) –Brent crude have prolonged the losses toward $124 a barrel on Wednesday after the U.S. central bank ran hopes of further economic spur, hearsay that Saudi Arabia is keeping the higher result in the event of a strategic release also weighed. In the industry data shows a larger-than-expected mount in crude inventories in the United States, the world’s top oil consumer, also pressured prices, but losses were constrained by further disturbance in exports from the North Sea. On Tuesday Brent was settled down 57 cents at $124.86. While having this early month Brent crude has dropped 21 cents to $124.65 a barrel by 0616 GMT (02.16 a.m. EDT), after touching a low of $124.42. In addition, U.S crude forecast 47 cents of loss to $103.55 after having a fall by more than $1 in the preceding session. According to a commodities strategist with ANZ Bank in Melbourne- Natalie Robertson, the comments made by Fed had influence on oil prices, plus for the U.S market compared to Brent which then concluded the Brent/WTI spread widening. Brent was carried by supply side interference in the North Sea.The premium of Brent to U.S crude beat an intraday high of $21.15, the highest data showed since October 24 last year. Furthermore, Federal Reserve policymakers appear less inclined to introduce a new round of monetary stimulus as the U.S ec... « previous next » |
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