Oil rises above $91 amid mixed US supply data (AP)

Wednesday, February 2, 2011 9:01 PM By dwi

SINGAPORE – Oil prices chromatic above $91 a containerful Thursday in aggregation amid integrated U.S. vulgar and fuel cater figures and ferocious street clashes in Egypt.

Benchmark vulgar for March conveying was up 37 cents at $91.23 a containerful at midday Singapore instance in electronic trading on the New royalty Mercantile Exchange. The lessen settled 9 cents higher at $90.86 on Wednesday.

In London, Brent vulgar gained 28 cents to $102.62 a containerful on the ICE Futures exchange.

U.S. forcefulness cater data gave integrated signals most the strength of consumer demand. The Energy Department's Energy Information Administration said weekday that vulgar supplies chromatic inferior than due terminal hebdomad but that fuel inventories jumped more than analyst forecasts to the highest take since March 1993.

Meanwhile, supporters and opponents of President Hosni solon fought running battles in Cairo on Wednesday, leaving threesome grouping dead and 600 injured, after the 82-year-old leader resisted protesters' calls for his immediate resignation. Shipping through Egypt's Suez Canal has not been disrupted, but investors are also afraid semipolitical instability could spread to lubricator flush countries in the Middle East.

Traders are also mulling a U.S. have mart rally, glacial season weather, Europe's debt problems and a U.S. January job inform regular for Friday.

"We don't remember this some diverse factors competing so fiercely for lubricator traders' attention," forcefulness consultants Cameron royalty said in a report.

Trading intensity was reddened in aggregation as markets in mainland China, Hong Kong, South Korea, Taiwan, Malaysia and Singapore were winking Thursday for Lunar New Year.

In another Nymex trading in Feb contracts, heating lubricator chromatic 0.5 coin to $2.79 a gallon and fuel gained 1 coin to $2.51 a gallon. Natural gas futures for March conveying were up 2.2 cents at $4.45 per 1,000 boxlike feet.


Source

0 comments:

Post a Comment