FX & CFD trading involves significant risk
Intermediate crude dropped for a second day, extending the biggest loss in more
than a month, as
fell as much as 1.2 percent after decreasing 1.7 percent yesterday as the
Energy Information Administration reported
Crude inventories decreased 2.8 million barrels last week, data yesterday from the EIA, the Energy Department’s statistical arm, show. Stockpiles decreased 29.9 million barrels in the four weeks ended July 19, the largest four-week drop in data dating to 1982.
Bookings for U.S. goods meant to last at least three years increased 4.2 percent, led by transportation equipment, after a revised 5.2 percent gain in May that was bigger than initially reported, the Commerce Department said today in Washington.
WTI crude for September delivery declined 32 cents to $105.07 a barrel at 11:06 a.m. on the New York Mercantile Exchange. Futures touched $104.08, the lowest level since July 9. The volume of all futures traded was 14 percent above the 100-day average for the time of day.
Brent for September settlement rose 20 cents to $107.39 a barrel on the London-based ICE Futures Europe exchange. The volume of all futures traded was 11 percent below the 100-day average. The European benchmark traded at a $2.32 premium to WTI, up from $1.80 yesterday. Brent dropped below WTI on July 19 for the first time since August 2010.
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