WTI Drops Following U.S.s Stockpiles Latest Declination Upon crude stockpiles declination at the biggest oil-storage hum in the U.S., West Texas Intermediate dropped for the first time during the last three days. In London, Brent remained stable. In New York, futures fell as much as 0.4 percent. The Energy Information Administration yesterday reported that, Cushing’s, in Oklahoma, supplies, WTI contracts’ delivery point, reached 20.7 million barrels last week, recording a depreciation of 508,000. On the New York Mercantile Exchange in electronic trading, October’s West Texas Intermediate crude reached $93.52 a barrel, declining as much as 36 cents, whilst having traded by 3:14 p.m. Sydney time at $93.54. Latest data showed that nationwide crude inventories approached 360.5 million barrels, recording a declination of 2.07 million barrels. According to ten analysts’ median estimates, supplies have been predicted to fall by 2.5 million barrels. The EIA highlighted that gasoline stockpiles settled at 212.3 million, having declined by 960,000 barrels.
Posted on: Thu, 28 Aug 2014 08:00:40 +0000
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