Oil Advances in Last Hour of Trading, Reversing Decline: Report

By Midnight Trader,  April 27, 2012, 03:17:19 PM EDT

Oil advanced in the last hour of floor trading on the New York Mercantile Exchange, Bloomberg reports.

Crude oil for June delivery gained 36 cents, or 0.3%, to US$104.91 a barrel at 2.22 p.m. on the New York Mercantile Exchange. Futures are up 1.8% this week and have increased 6.2% this year. Earlier futures fell 0.8%.

In extremely light trading, U.S. crude recovered and edged up late in the session, helped by a revised higher February oil demand number from the Energy Information Administration, Reuters says.

Brent oil for June settlement slipped 3 cents to US$119.89 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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