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Oil futures – Nymex slips as higher US stocks expected

  • : Biofuels, Biomass, Coal, Corporate, Crude oil, Electricity, Emissions, Freight, Fundamentals, LPG, Natural gas, Oil products, Petroleum coke, Politics, Refinery shutdowns
  • 12.02.10

Singapore, 12 February (Argus) — Nymex crude prices fell in today's after-hours trade, dampened by a stronger US dollar and expectations of higher US crude stocks.

At 05:04 GMT the front-month Nymex March WTI crude contract was at $74.87/bl, lower by 41¢/bl from its close yesterday when the contract ended 76¢/bl higher.

The new front-month Ice April Brent contract fell by 38¢/bl to $73.74/bl. The March Ice Brent contract expired yesterday, settling 51¢/bl higher.

Nymex March heating oil fell by 0.72¢/USG to $1.9558/USG, while Nymex March RBOB gasoline fell by 0.77¢/USG to $1.9280/USG.

The US EIA weekly report, due out later today, is expected to show a rise in stocks of crude and gasoline, while distillates inventories are expected to decline in the wake of a bout of cold weather that has increased demand for heating fuels. The release of the EIA report was postponed by two days because of bad weather.

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