Current oil price gains are not fundamentally justified and likely to be reversed if the rise in API inventory figures is confirmed by data from the US EIA released later, one player said on Wednesday.
The front month contract for Brent North Sea crude oil was last seen changing hands up USD 0.35 at USD 77.99/bbl on the ICE platform. On Tuesday, the contract closed up USD 0.32 at USD 77.64/bbl.
On Nymex, the WTI February contract last traded USD 0.19 higher at USD 79.06/bbl, after having gained USD 0.10 in the previous session.
The release of the API (Ameri
Mittwoch, 30.12.2009, 08:28 Uhr
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