WTI crude futures closed the session in minor negative territory and broke through the key psychological level of USD 96.00 to the downside, outperformed by Brent crude futures which posted gains of over 1% amidst the release of stronger than expected Chinese trade balance numbers and middle-east tensions. The WTI-Brent crude spread reached its widest levels for five months as WTI continues to ease from January's rally and falling alongside a recovering USD. Adverse weather conditions forecasted for the US failed to lend support to prices, and as reminder Brent Crude Mar-13 options expired at the pit close.
08 Feb 2013 - 15:32 - Energy - Source: Newswires
RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: