Commodities: Dec 2013 Oil (WTI) Contract Down 0.3% As Market Awaits API Report

By Staff,

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Crude oil ( WTI ) futures contracts slipped early today as the market awaits the American Petroleum Institute report late today on oil stockpiles.

Ahead of the report, crude for December delivery (CLZ3.NYM) fell 25 cents or 0.3% to $94.38 a barrel in electronic transactions.

The API is scheduled to release its oil supply statistics at 4:30 p.m. Eastern time, and analysts polled by Platts expect oil stocks to rise a significant 2.5 million barrels for the week ended Nov. 1.

Supplies have been on the rise for the past six weeks as U.S. production continues to increase.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Commodities
Referenced Stocks: WTI

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