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***Top stories from the last 15 days
Crude Oil Report Crude Oil Report: Brent Unfazed As US Demand Hits New 13-Year Low, Test Of $120 In The Cards- Written by Sumit Roy |
- February 08, 2012
Crude Oil Report: Brent Unfazed As US Demand Hits New 13-Year Low, Test Of $120 In The Cards
- Details
WTI suffers from regional dynamics, but Brent surges on strong global fundamentals.
The Department of Energy reported this morning that in the week ending Feb. 3, 2012, U.S. crude oil inventories increased by 0.3 million barrels, gasoline inventories increased by 1.6 million barrels, distillate inventories increased by 1.2 million barrels, and total petroleum inventories increased by 4.2 million barrels.
Crude oil was slightly higher after the latest figures. Brent is now trading near six-month highs close to $117 after a strong rally earlier this week. WTI has lagged significantly and was last trading near $99.
Brent:
Source: Bloomberg
WTI:
Source: Bloomberg
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