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Oil markets diverged as US crude rose and Brent fell
Oil markets were mixed on Tuesday as US crude rose as supplies from Canada slumped, while Brent crude prices fell.
US West Texas Intermediate crude futures were $ 62.38 a barrel by 0518 GMT, up 70 cents, or 1.1 percent, from the previous settlement price.
Traders said that the WTI price hike was caused by a reduction in the supply of the Keystone pipeline, which has been operating below its capacity level since last year due to leakage, leading to a decline in supplies destined for the United States.
Brent crude fell as Asian stocks slumped and the dollar, with potentially reduced demand, makes fuel more expensive for countries using other currencies in their home markets.
Brent crude futures were $ 65.48 a barrel, down 19 cents, or 0.3 percent, from the previous settlement.
http://economy-news.net/content.php?id=11198
Oil markets were mixed on Tuesday as US crude rose as supplies from Canada slumped, while Brent crude prices fell.
US West Texas Intermediate crude futures were $ 62.38 a barrel by 0518 GMT, up 70 cents, or 1.1 percent, from the previous settlement price.
Traders said that the WTI price hike was caused by a reduction in the supply of the Keystone pipeline, which has been operating below its capacity level since last year due to leakage, leading to a decline in supplies destined for the United States.
Brent crude fell as Asian stocks slumped and the dollar, with potentially reduced demand, makes fuel more expensive for countries using other currencies in their home markets.
Brent crude futures were $ 65.48 a barrel, down 19 cents, or 0.3 percent, from the previous settlement.
http://economy-news.net/content.php?id=11198
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