Crude Oil Prices Weekends

5:29 AM

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This week, crude oil prices remained on USD93 per barrel in Asian trade after seeing oil demand signals the United States a fluctuation.

As quoted by the Associated Press on Wednesday (06/22/2011), price of crude oil for August delivery fell 53 cents to the position of USD93,64 per barrel during the day Singapore time in electronic trading on the New York Mercantile Exchange (Nymex).

Meanwhile, in London, Brent crude oil for August delivery rose 26 cents to USD111,21 per barrel on the ICE Futures Exchange.

Previously, the American Petroleum Institute stated in U.S. crude stocks fell 81 thousand barrels last week, while the Platts energy analysts forecast a decline of up to two million barrels. Gasoline inventories fell by 1.5 million barrels last week, but some analysts that it expected a demand of up to one million barrels.

“Demand for crude oil is not too strong, but we still have more crude oil in storage compared to previous years,” said energy consultant Cameron Hanover.

In other Nymex trading in the contracts in July, heating oil rose 0.2 cents to $ 2,89 per gallon, while gasoline fell three cents at $ 2,91 per gallon. Natural gas futures rose 3.5 cents to $ 4,42 per 1,000 cubic feet.