WTI Bounces Back As Cushing, Oklahoma, Supply Drops

Oil bounced back as an Energy Information Administration report showed a dip in inventories at Cushing, Oklahoma, the delivery point for West Texas Intermediate crude traded in New York.

Highlights from market news:

- Futures rose as much as 0.4 percent after stockpiles declined 315,000 barrels at the hub last week to 51.4 million: one month low

- Crude oil for March delivery rose 23 cents to $96.87 a barrel at 12:25 p.m. on the New York Mercantile Exchange

- The European benchmark grade traded at as much as a $20.87- a-barrel premium to WTI, the widest spread on an intraday basis since Dec. 21

Click here to read full Bloomberg article.

Get the Latest Oil Investing Stock Information

Get the latest information about companies associated with Oil Investing delivered directly to your inbox.


By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

Oil Report small 

Get Our Expert Guide to Oil Investing FREE!

Download this FREE Special Report, Oil Investing: Oil Price Forecast and Oil Deposits Around the World

Leave a Reply