{"id":47452,"date":"2014-02-13T07:53:01","date_gmt":"2014-02-13T12:53:01","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=47452"},"modified":"2014-02-13T07:53:01","modified_gmt":"2014-02-13T12:53:01","slug":"crude-prices-slides-from-four-month-high","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2014\/02\/13\/crude-prices-slides-from-four-month-high\/","title":{"rendered":"Crude Prices Slides from Four-Month High"},"content":{"rendered":"

By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

Crude prices slid from a four-month high on Thursday as reports from the Energy Information Administration (EIA) revealed the US oil stockpiles climbed.<\/p>\n

Futures for the West Texas Intermediate (WTI) for March delivery dropped 0.67% lower at $99.70 per barrel on the New York Mercantile Exchange at the time of writing, while the European benchmark Brent crude for March settlement declined 0.31% to $108.44 per barrel on the London-based ICE Futures Europe exchange.<\/span><\/p>\n

Crude – US Oil Inventories<\/span><\/h2>\n

On Wednesday, the Energy Information Administration (EIA) released reports which revealed stockpiles at Cushing, Oklahoma declined by 2.6 million barrels last week, as a pipeline helped to move oil away from the largest storage hub in the US.<\/p>\n

The reports from the EIA also revealed crude inventories climbed by 3.27 million to 361.35 million barrels in the week ended February 2, exceeding analysts\u2019 forecast of a rise of 2.63 million barrels.<\/p>\n

Distillate stockpiles declined by 731,000 barrels to 113.1 million in the week ending February 7, reports from the EIA confirmed.<\/p>\n

On Tuesday, reports from the American Petroleum Institute (API) showed that US crude oil inventories rose by 2.13 million barrels last week.<\/p>\n

Crude – OPEC Global Demand Estimates<\/span><\/h2>\n

The Organization of Petroleum Exporting Countries (OPEC) released a February issue of its monthly oil market report, in which the OPEC increased its forecast for global oil demand by 50,000 barrels a day to 1.09 million barrels a day.<\/p>\n

Other News<\/span><\/h2>\n

The Russian government predicted that its oil production would reach approximately 525 million tons or 10.54 million barrels per day this year, according to Russia\u2019s deputy minister, Alexander Novak.<\/p>\n

Meanwhile in Libya, protesters closed the oil and gas pipelines in the Wafa oil field, according to the National Oil Corporation.<\/p>\n

 <\/p>\n

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The post Crude Prices Slides from Four-Month High<\/a> appeared first on | HY Markets Official blog<\/a>.<\/p>\n

Article provided by HY Markets Forex Blog<\/a><\/u><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

By HY Markets Forex Blog Crude prices slid from a four-month high on Thursday as reports from the Energy Information Administration (EIA) revealed the US oil stockpiles climbed. Futures for the West Texas Intermediate (WTI) for March delivery dropped 0.67% lower at $99.70 per barrel on the New York Mercantile Exchange at the time of … <\/p>\n

Continue reading “Crude Prices Slides from Four-Month High”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-47452","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/47452","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=47452"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/47452\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=47452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=47452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=47452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}