Energy Currents: Crude Slips Back Under $95 a Barrel After Arlene Makes Landfall

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Crude oil is backing away from its earlier gains above $95 a barrel but remains ahead for the session so far. The gains followed the Greek austerity vote yesterday as well as EIA inventory figures that showed a much larger draw than expected.

Another factor is Tropical Storm Arlene, which came ashore near Cabo Rojo in Mexico about 5 a.m. this morning just under hurricane status. Some traders yesterday were pointing at Arlene as the reason for rising prices, particularly the RBOB contracts, with Mexico a key exporter of oil to the U.S.

At 9:15 a.m.

AUG WTI Crude ( NY ) $94.896 +0.12

AUG Brent Crude (ICE) $112.29 -0.11

AUG Natural Gas $4.232 -0.086



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

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This article appears in: Investing , Commodities

Referenced Stocks: NY

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