Oil Falls After Fed Minutes, U.S. Supply Data: Report

By Midnight Trader,  January 04, 2013, 12:32:35 PM EDT

Oil futures edged lower Friday, pressured by a stronger dollar, as traders weighed concerns over a potential end to the Federal Reserve's monetary stimulus this year against a hefty drop in last week's U.S. crude supplies, MarketWatch reported.

Crude oil futures for delivery in February shed 51 cents, or 0.6%, to $92.41 a barrel on the New York Mercantile Exchange. It traded around $92.73 shortly before the supply report and briefly topped $92.80 after it.

Crude supplies fell by 11 million barrels, the U.S. Energy Information Administration reported Friday. Analysts polled by Platts expected a 1 million-barrel decline.

Oil prices lost 20 cents Thursday after the minutes of the Fed's most recent meeting were released.




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

Referenced Stocks:



Latest News Video



Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.43 0.07  0.52%
CSCO $ 24.24 0.35  1.48%
MSFT $ 34.87 0.79  2.32%
F $ 15.08 0.44  3.01%
ARUN $ 13.10 4.51  25.61%
SIRI $ 3.50 0.05  1.45%
GE $ 23.46 0.19  0.82%
S $ 7.32 0.04  0.55%