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WTI Oil Trades Near Highest in 2 Weeks, OPEC Boosts Shipments
Mar. 14, 2013 05:32PM PST
Resource Investing News Bloomberg reported that West Texas Intermediate oil has traded near highest since the first of March and is headed for a second advance in 2 weeks. The Organization of Petroleum Exporting Countries (OPEC) will also increase shipments by 300,000 barrels/day, which totals 23.75 million barrels daily.
Bloomberg reported that West Texas Intermediate oil has traded near highest since the first of March and is headed for a second advance in 2 weeks. The Organization of Petroleum Exporting Countries (OPEC) will also increase shipments by 300,000 barrels/day, which totals 23.75 million barrels daily.
As quoted in the market news:
WTI for April delivery was at $93.30 a barrel, up 27 cents, in electronic trading on the New York Mercantile Exchange at 10:15 a.m. Sydney time. The volume of all futures traded was 50 percent below the 100-day average. The contract climbed 51 cents yesterday to $93.03, the highest since Feb. 25. Prices are up 1.5 percent this week and 1.6 percent this year.