Go Finance Report - Crude oil prices remained dilevel USD89 per barrel in afternoon trading today in Asia. The traders see no improvement over the leaking of oil pipeline in Alaska that has cut oil production in the United States (U.S.).
As quoted by the Associated Press (AP), Tuesday (11/01/2011), price of crude oil for February delivery edged up just one cent to as low as USD89, 24 per barrel in electronic trading on the New York Mercantile Exchange (Nymex). Previously, the price had jumped up to USD1, 22 per barrel after a pipeline leak in Alaska that block oil shipments of 620 thousand barrels per day.
Parties Alyeska Pipeline Service Co. as a party that operates the pipeline from Prudhoe Bay said it has been working hard to avoid leakage of a broader and restore the flow of oil flow, although not provide certainty of time to get back to normal.
"If the pipes are not repaired immediately, impact of refineries on the West Coat will be more acute. With the assumption that the pipe can be fixed soon and we know how much time he needs, then most of the buying action will soon be over," said Cameron Hanover analyst reports.
In other Nymex trading in the contract of February, heating oil was steady at $ 2, 56 per gallon, while gasoline futures fell 0.6 cents to $ 2, 45 per gallon. Natural gas futures for November fell 2.4 cents to $ 4, 38 per 1,000 cubic feet. Meanwhile, in London, Brent crude fell 21 cents to USD95, 49 per barrel on the ICE Futures exchange. (GoFinance)
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