Oil futures – Nymex crude steadies after price rise

Market: Biofuels, Biomass, Coal, Corporate, Crude oil, Electricity, Emissions, Freight, Fundamentals, LPG, Natural gas, Oil products, Petroleum coke, Politics, Refinery shutdowns
02/02/10

Singapore, 2 February (Argus) — Nymex crude prices stabilised in today's after-hours trade following sharp price gains yesterday.

At 08:30 GMT the front-month Nymex March WTI crude contract was at $74.45/bl, higher by 2¢/bl from its close yesterday when the contract ended $1.54/bl higher.

The Ice March Brent crude contract was 2¢/bl lower at $73.09/bl.

Nymex March heating oil rose by 0.15¢/USG to $1.9564/USG, while Nymex March RBOB gasoline rose by 0.20¢/USG to $1.9341/USG.

Oil prices rose yesterday on fears that Nigerian crude production could be affected by a pipeline leak and rebel groups ending a ceasefire in the oil-rich Niger delta.

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