GulfBase Live Support
24/01/2013 06:21 AST
Oil traded near the lowest level in a week in New York after U.S. crude stockpiles gained and capacity on the Seaway pipeline was reduced.
Futures were little changed after dropping yesterday the most in a month. Crude supplies rose by 3.2 million barrels last week, the biggest increase in six weeks, the industry-funded American Petroleum Institute said. A government report today may show inventories climbed by 2.2 million barrels, according to a Bloomberg News survey. London-traded Brent’s premium to New York oil widened after Enterprise Products Partners LP (EPD) told shippers that capacity was limited on its expanded Seaway line.
“Reports of a problem with flows through the Seaway pipeline weighed on U.S. oil prices,” Mark Pervan and Natalie Rampono, Melbourne-based analysts at Australia & New Zealand Banking Group Ltd., wrote in a note today. Expectations of an increase in stockpiles also affected prices, they said.
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Bloomberg
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
(In US Dollar) | Change | Change(%) | |
---|---|---|---|
Brent | 68.12 | -2.02 | -2.88 |
WTI | 63.51 | 0.5 | 0.79 |
OPEC Basket | 64.98 | -1.5 | -2.26 |
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