Crude futures have been supported by USD-weakness throughout most of trade today, and the WTI-Brent spread tightened on the day, back down to USD 16.20 helped by news that the Nebraska governor has approved a new Keystone XL pipeline route. Initial estimated of Thursday’s DoE number implies the expectation of a build in the headline crude figure alongside a build in gasoline, although a decline in the reading of 1.9mln seen last week. Today sees the final day of trade for the Feb’13 futures contract, which still had volume of 23k just 30 mins before the close.
22 Jan 2013 - 21:37 - Energy - Source: RANsquawk
RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: