Crude Reverses Course to Finish Positive
by Rigzone Staff
Crude advanced throughout the late afternoon session to finish Wednesday higher than where the trading day started. This was the bull's first win in three days in the crude pits.
April light sweet crude futures trading on the NYMEX improved 52 cents to settle at $107.07 per barrel. After falling by more than $1.00 per barrel in the morning, a midday rally pushed the April contract back into positive territory. Similarly, April futures for Brent improved $1.11, or 1 percent, to settle at $122.66 per barrel.
RBOB gasoline futures also improved on the day. The April RBOB contract settled at $3.26 or up 1 percent from the previous day.
Even natural gas showed considerable strength, advancing nearly 10 cents to finish at $2.62 per MMBtu. Trading lower for the past four sessions, Wednesday's gains may be more a relief rally than an indicator that the slump in natural gas prices—due to oversupply—is coming to an end.
Please feel free to comment to any of the posts on this blog. The intent is to start discussions on the subject content. If you have articles for post or comments about the blog in general please contact: Thank you Preferred Logistics----------- www.preferredlogistics.biz
No comments:
Post a Comment
Hello,
I appreciate your comments regarding this blog. I welcome your suggestions and would appreciate you additions to this blog.
The focus of this blog has changed beginning October 1,2011. Logisitcs and Supply Chain dynamics will be the focus.
Our website is www.preferredlogistics.biz