Singapore - oil prices fluctuated below $ 92 a barrel Thursday in Asia as signs of improvement in demand in the U.S. grew gross to a maximum of two years.
Oil of reference for February delivery fell $2 cents to 91.84 Singapore midi time barrel in electronic commerce on the New York Mercantile Exchange. Gross has acquired 75 cents to settle at $91.86 Wednesday, since October 2008 the higher settlement price.
The Energy Department said U.S. commercial crude supplies by 2.2 million barrels to 333.1 million barrels last week then that analysts surveyed by Platts, the energy information from McGraw-Hill Cos. arm, a decline of only 300,000 barrels.
Crude oil inventories fell six consecutive weeks, suggesting strengthens American consumption.
Traders are also closely watch rebooting the 800 miles (1287-mile) trans-Alaska pipeline. Alyeska Pipeline Co., which manages the line said about 400,000 barrels per day started in flowing Wednesday, about two-thirds of the 620,000 delivered before a leak of farm line down Saturday.
Officials wanted partially restart pipeline concerns that ice formed in line and wax oil has accumulated during the prolonged closure.
However, oil continues to seep into the basement of the boost construction pump close to Prudhoe Bay pumping station and a bypass pipe around the leak is still days away during the installation.
"Uncertainties still linked to the recent Alaska pipeline failure always require a risk premium on the market which is unlikely to dissipate until that permanent capacity flow are repeated," Ritterbusch and Associates said in a report. "There is still a possibility of pips as the damaged portion of the pipeline is bypassed in the middle of the cold weather."
Other Nymex trading in contracts of February, heating oil was steady at $2.62 per gallon so that future gas held in $2.46 per gallon. Natural gas future February slid 5.2 cents to $4.48 per 1,000 cubic feet.
London, gross Brent was up to 9 cents to 98.21 $ per barrel on the ICE Futures Exchange.
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