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Intermediate crude pared losses after a
Futures rebounded after the Energy Information Administration said that supplies slipped 2.83 million barrels to 364.2 million. Analysts surveyed by Bloomberg had projected a 2.8 million-barrel decrease. Prices dipped earlier as Chinese manufacturing contracted more than economists estimated, bolstering concern that economic growth will slow in the world’s biggest energy-consuming country.
WTI oil for
September delivery slipped 44 cents, or 0.4 percent, to $106.79 a barrel at
10:40 a.m. on the New York Mercantile Exchange. The contract traded at $106.40
before the release of the EIA report at 10:30 a.m. in
for September settlement dropped 83 cents, or 0.8 percent, to $107.59 a barrel
on the London-based ICE Futures Europe exchange. The volume of all futures
traded was 23 percent below the 100-day average. The European benchmark grade
traded at an 80-cent premium to WTI, down from $1.19 yesterday. Brent slid
|remaining time till the new event being published|
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