Bloomberg, (28/6) - West Texas
Intermediate traded little changed after the biggest gain in two months
as signs of recovery in the U.S. economy boosted the outlook for oil
demand. Brent’s premium to New Yorkcrude was near the narrowest since
January 2011.
Prices fluctuated after advancing for a fourth day
yesterday as the U.S. Labor Department reported jobless claims decreased
to 346,000 last week from a revised 355,000 in the prior period and the
Commerce Department said household purchases, which account for about
70 percent of the economy, rose 0.3 percent last month.
WTI for
August delivery was down 22 cents, or 0.2 percent, at $96.83 a barrel on
the New York Mercantile Exchange at 8:06 a.m. Singapore time, after
rising 1.6 percent yesterday to $97.05, the highest settlement since
June 19. Futures have climbed 5.3 percent this month, paring losses this
quarter to 0.3 percent. The volume of all futures traded was 61 percent
higher than the 100-day average.
Brent for August settlement
slid 8 cents to $102.74 a barrel on the London-based ICE Futures Europe
exchange. The contract increased $1.16, or 1.1 percent, yesterday.
Brent’s premium over WTI settled at $5.77, the narrowest level since
Jan. 18, 2011, and was at $5.90 today.
http://www.bloomberg.com/news/2013-06-28/wti-little-changed-after-biggest-gain-in-two-months-on-u-s-data.html
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