- Analytics
- News and Tools
- Market News
- Oil rose
Oil rose
West
Texas Intermediate advanced to the highest price in three weeks as a government
report showed that crude stockpiles fell at Cushing, Oklahoma. Brent oil rose.
Futures
climbed for a third day. Inventories at Cushing, the delivery point for WTI
futures, shrank 592,000 barrels last week, the Energy Information
Administration said. Total inventories increased. Brent rose on concern that
escalating tension in Ukraine will disrupt global energy supplies.
“Cushing
is what’s moving the market,” said Phil Flynn, senior market analyst at the
Price Futures Group in Chicago. “You still have the ongoing crisis in Ukraine
that’s providing some background support.”
WTI for
June delivery increased 93 cents, or 0.9 percent, to $102.63 at 10:48 a.m. on
the New York Mercantile Exchange after rising to $102.65, the highest intraday
price since April 22. The volume of all futures traded was 16 percent above the
100-day average for the time of day.
Brent for June settlement, which expires tomorrow, gained 71 cents, or 0.7 percent, to $109.95 a barrel on the London-based ICE Futures Europe exchange. Volume was 29 percent above the 100-day average. The European benchmark crude traded at a premium of $7.32 to WTI, compared with $7.54 yesterday.
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
