Market Chatter: Oil Fluctuates on Seaway, Euro

By Midnight Trader,  January 14, 2013, 12:11:34 PM EDT

"Oil fluctuated in New York after the expansion of a pipeline that may reduce a glut in the center of the U.S. and as the dollar reduced losses against the euro," Bloomberg reported.

It said: "West Texas Intermediate was little changed after the Seaway line running from Cushing, Oklahoma, to the Gulf Coast resumed service on Jan. 11 at a capacity of 400,000 barrels a day, up from 150,000 barrels. Crude for February delivery slipped 13 cents to $93.43 a barrel on the New York Mercantile Exchange. Prices have fallen 5.3% in the past year. Brent for February settlement gained 36 cents, or 0.3%, to $111 a barrel on the London-based ICE Futures Europe exchange."




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.


This article appears in: Investing, Commodities

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