Singapore, 1 October (Argus) — Crude futures fell in today's after-hours trade, as traders booked profits after yesterday's large gains.
At 08:30 GMT the front-month Nymex November WTI crude contract was at $69.85/bl, falling by 76¢/bl from its close yesterday when the contract surged by $3.90/bl.
The Ice November Brent crude contract fell by 66¢/bl to $68.41/bl.
The new Nymex front-month November heating oil contract fell by 1.86¢/USG to $1.8138/USG, while Nymex November RBOB gasoline fell by 1.36¢/USG to $1.7380/USG.
Oil prices were pulled higher yesterday by a surprise 1.6mn bl decline in US EIA gasoline stocks, although a larger than expected 2.8mn bl rise in crude inventories tempered the market's bullish tone.
Yesterday's price surge was also considered by some analysts as overdone as US crude stocks remained high and distillates inventories rose for the sixth straight week.
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