Go Finance Reporting Singapore - Crude oil prices in Asian spot market today, albeit gradual rise in the level of USD87 per barrel. The price increase was triggered days of crude supply report the results of the United States (U.S.), which is unexpectedly decreased. It is sending positive signals that demand continues to improve.
As quoted by the Associated Press (AP), Wednesday (02/09/2011), price of crude oil for March delivery rose to 63 cents to the position of USD87, 57 per barrel in electronic trading on the New York Mercantile Exchange (Nymex) at noon Singapore time . Meanwhile, Brent crude on London's ICE Futures exchange rose 41 cents back to the position of USD100, 33 per barrel.
American Petroleum Institute (API) announced that U.S. crude supplies fell 558 thousand barrels last week, but gasoline inventories rose 3.2 million barrels. Meanwhile before Platts, McGraw-Hill Cos. estimate there will be an increase in oil supply hinga 2.4 million barrels. Data from the Department of Energy Information and Administration of the U.S. itself will be revealed on Wednesday.
"Report of the API was quite encouraging. This is the most bullish report which was released the API in a couple weeks," said energy consultant's report Schork.
In other Nymex trading in the contract of February, heating oil rose 0.3 cents to $ 2, 73 per gallon and gasoline rose 0.2 cents to $ 2, 50 per gallon. Natural gas futures for March delivery rose three cents at $ 4, 07 per 1,000 cubic feet. (GoFinance)
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