Wed Apr 7, 2010 1:41am BST
TOKYO, April 7 (Reuters) - U.S. crude futures slipped toward
$86 a barrel on Wednesday, following rises in the previous six
sessions, as a stronger dollar dented sentiment.
FUNDAMENTALS
* NYMEX crude for May delivery CLc1 was down 18 cents at
$86.66 a barrel by 0029 GMT, after prices edged up 22 cents on
Tuesday, when recent positive economic data gave support.
[ID:nSGE63505J]
* U.S. crude oil inventories rose less than expected last
week as refinery utilisation increased, while gasoline stocks
fell more than expected, American Petroleum Institute (API)
weekly data showed Tuesday. [API/S]
Crude oil stockpiles in the world's largest energy consumer
were up 1.1 million barrels in the week to April 2, the trade
group reported, or less than analysts' expectations of a 1.8
million barrel build.
The U.S. Energy Information Administration (EIA), a
government agency, will release its own stockpiles data later on
Wednesday.
* Global oil demand growth this year is expected to be
slightly lower than previously forecast as weaker European
consumption overshadows higher Asian demand, mainly from China,
the EIA said on Tuesday. [ID:nN06240145]
MARKETS NEWS
* Japan's Nikkei average was flat on Wednesday, with
exporters slipping as a slightly stronger yen fed profit-taking
sentiment, though banks gained in the wake of rises by their U.S.
peers. [.T]
* The euro struggled on Wednesday, plagued by fresh worries
about debt-laden Greece, while commodity currencies such as the
Australian and Canadian dollars held gains on the back of
expectations of higher interest rates. [FRX/]
The dollar index .DXY =USD edged slightly higher, with
help mainly coming from gains against the euro.
* The Reuters-Jefferies CRB index .CRB, a commodities
bellwether that tracks prices across 19 futures markets, fell 0.4
percent on Tuesday, dropping from Monday's 11-week highs, as a
stronger dollar induced profit-taking that weighed on markets.
[COM/WRAP]
DATA/EVENTS
* The following data is expected on Wednesday:
-- Weekly U.S. Mortgage Market Index (1100 GMT)
-- EIA Weekly U.S. Oil Stocks and Output Data (1430 GMT)
-- U.S. Federal Reserve Chairman Bernanke Speaks (1730 GMT)
-- U.S. Consumer Credit for February (1900 GMT)
RELATED NEWS
> Pipeline leaks oil into Louisiana wildlife refuge [nN06243968]
> Obama limits U.S. use of nuclear arms [nN06215298]
> Fed says "extended period" may last a long time [nN06218670]
> Yuan revaluation "China's choice"-Geithner [nLDE6351N1]
Source: http://uk.reuters.com/article/idUKTOE63507Z20100407
TOKYO, April 7 (Reuters) - U.S. crude futures slipped toward
$86 a barrel on Wednesday, following rises in the previous six
sessions, as a stronger dollar dented sentiment.
FUNDAMENTALS
* NYMEX crude for May delivery CLc1 was down 18 cents at
$86.66 a barrel by 0029 GMT, after prices edged up 22 cents on
Tuesday, when recent positive economic data gave support.
[ID:nSGE63505J]
* U.S. crude oil inventories rose less than expected last
week as refinery utilisation increased, while gasoline stocks
fell more than expected, American Petroleum Institute (API)
weekly data showed Tuesday. [API/S]
Crude oil stockpiles in the world's largest energy consumer
were up 1.1 million barrels in the week to April 2, the trade
group reported, or less than analysts' expectations of a 1.8
million barrel build.
The U.S. Energy Information Administration (EIA), a
government agency, will release its own stockpiles data later on
Wednesday.
* Global oil demand growth this year is expected to be
slightly lower than previously forecast as weaker European
consumption overshadows higher Asian demand, mainly from China,
the EIA said on Tuesday. [ID:nN06240145]
MARKETS NEWS
* Japan's Nikkei average was flat on Wednesday, with
exporters slipping as a slightly stronger yen fed profit-taking
sentiment, though banks gained in the wake of rises by their U.S.
peers. [.T]
* The euro struggled on Wednesday, plagued by fresh worries
about debt-laden Greece, while commodity currencies such as the
Australian and Canadian dollars held gains on the back of
expectations of higher interest rates. [FRX/]
The dollar index .DXY =USD edged slightly higher, with
help mainly coming from gains against the euro.
* The Reuters-Jefferies CRB index .CRB, a commodities
bellwether that tracks prices across 19 futures markets, fell 0.4
percent on Tuesday, dropping from Monday's 11-week highs, as a
stronger dollar induced profit-taking that weighed on markets.
[COM/WRAP]
DATA/EVENTS
* The following data is expected on Wednesday:
-- Weekly U.S. Mortgage Market Index (1100 GMT)
-- EIA Weekly U.S. Oil Stocks and Output Data (1430 GMT)
-- U.S. Federal Reserve Chairman Bernanke Speaks (1730 GMT)
-- U.S. Consumer Credit for February (1900 GMT)
RELATED NEWS
> Pipeline leaks oil into Louisiana wildlife refuge [nN06243968]
> Obama limits U.S. use of nuclear arms [nN06215298]
> Fed says "extended period" may last a long time [nN06218670]
> Yuan revaluation "China's choice"-Geithner [nLDE6351N1]
Source: http://uk.reuters.com/article/idUKTOE63507Z20100407
Comments
Post a Comment