Oil Trims Quarterly Advance on Speculation U.S. Stockpiles Rose


27/03/2012 08:06 AST  Bloomberg

Oil fell from the highest close in three days in New York, trimming its second quarterly advance, before a government report forecast to show U.S. crude stockpiles rose to a six-month high

Futures slid as much as 0.3 percent after rising for a second day yesterday. U.S. supplies gained 2.8 million barrels, or 0.8 percent, to 349.1 million in the seven days ended March 23, according to the median of six analyst estimates before an Energy Department report tomorrow. That would bring supplies to the highest level since Sept. 2.

Oil for May delivery dropped as much as 32 cents to $106.71 a barrel in electronic trading on the New York Mercantile Exchange and was at $106.77 at 12:51 pm. Singapore time. It gained 16 cents yesterday to $107.03, the highest close since March 21. Prices are 8 percent higher this year and headed for a second quarterly gain.

For more on this Click Here

Crude Oil News
2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | News Archive

JAN | FEB | MAR | APR
Most Viewed Companies
Ticker Price Volume
GFH 0.21
ADIB 6.78 826,911
SECO 14.74 5,260,462
DARALARKAN 12.5 47,357,023
NBAD 15.05 1,349,794
TAWUNIYA 40.82 2,721,642
EMAAR 10.25 10,318,534
Recent News

Trade negotiators struggle ahead of US-Japan summit
Tokyo TALKS between the United States and Japan aimed at a trade deal seen as vital to a broader regional pact are in stalemate, Japan's economy minister said, as negotiators struggle to narrow gaps

Wall Street Weekahead - Spring fever brings hope for US earnings
Earnings season shifts into high gear next week, and with nearly one-third of S&P 500 names set to post results, investors hope the news provides a catalyst to buy stocks and leave the market's rece

India’s forex reserves rise to $309.44bn as of April 11
MUMBAI: India's foreign exchange reserves rose to $309.44 billion as of April 11 from $306.65 billion in the week earlier, the Reserve Bank of India said on Friday.

Changes in foreign curr

Japan's consumer inflation set to reach five-year high
Core consumer prices in Tokyo, a leading indicator of nationwide inflation, appear to have risen by the largest amount for 22 years in April after an increase in Japan's sales tax drove up prices, a

Gold Drops on U.S. Economy; Platinum Falls on Labor Talks
Gold futures fell as signs of gains in the U.S. economy eroded demand for the metal. Platinum dropped amid signs of progress in the labor dispute in South Africa, the world’s biggest producer.

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Are you satisfied with your full-service broker?