Welcome, Guest Login | Signup | Portfolio | Bookmark | Contact
Markets

Symbol Name
Click for Symbol Help




Oil Pares Losses After U.S. Denies Reserves Report

Wall Street Journal - Mar 15, 2012

Crude-oil futures trimmed losses near midday after a U.S. official called inaccurate a report that the U.S. would soon release oil from its emergency stockpile.

Prices earlier fell sharply after a report that the U.K. expects the U.S. to move soon to open its emergency oil reserves amid rising prices. Reuters quoted U.K. officials saying they expected the request soon and said the U.S. would cooperate with the move.

Nymex April light, sweet crude oil was trading 52 cents lower at $104.91 a barrel after the U.S. official's comment. It had swung from a 50-cent gain to a loss of about $1 on the initial report. Crude traded down to the lowest intraday level since Feb. 17, at $103.78 and earlier hit a high of $106.18 a barrel.

April Brent crude was $1.45 lower at $123.52 a barrel, after moving in a range of $120.97 to $125.35 a barrel.

Brent crude-oil prices have recently traded to their near their highest levels since 2008 and gasoline prices in the U.S. have climbed and are widely expected to top $4 a gallon nationwide for the first time since summer 2008.

Read Full Article from Wall Street Journal

- Posted: 2012-03-15 11:34:30


 More Stock Investor Place Top Stories  
Anglo platinum arm sheds 14,000 jobs, risking unrest
Apple falls below $500
US retail sales rose 0.5 percent in December, led by autos, furniture and clothing sales
Recovery in U.S. Saving 8 Million Underwater Homeowners
Facebook shares rise in buildup to mystery event, earnings

 Stock Investor Place Top Stories Archive
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008















Featured Companies | My Place | News | Markets | Big Board | Blogs | Products & Services

Copyright 2024 Stock Investor Place Inc. All Rights Reserved.
Disclaimer - Terms of Use - Privacy Policy - Advertise