WTI crude futures finished the session in negative territory following the ECB rate decision which saw USD strength as the EUR slumped across the board. This also saw WTI-Brent crude futures spread continue its widening trend for a seventh consecutive day, briefly breaking USD 21.00. Of note, there were comments from the Gulf OPEC members who said that they see no need to raise oil output which helped provide support in latter trade. Today also saw the release of the weekly US EIA Natural Gas Storage Change data which showed a less than expected draw-down adding to the downside in natural gas throughout trade.
07 Feb 2013 - 14:38 - - Source: RANsquawk
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