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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
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
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MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 2344.53 | +0.88 | |
Silver | 27.94 | +0.01 | |
Copper | 4.32 | +0.06 | |
Oil | 85.45 | -0.14 | |
Heating Oil | 2.68 | +0.02 | |
Natural Gas | 1.77 | +0.01 |
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