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Energy Currents: Crude $1 Lower As Trader Weigh Possible Fed Action

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Crude oil futures are lower this morning ahead of widely anticipated address by Federal Reserve Chairman Ben Bernanke where the central banker's 10 a.m. ET remarks will be parsed for prospective remedies to a laboring U.S. economy.

Crude yesterday settled little changed. EIA inventory data was mixed; with larger than anticipated builds in gasoline and distillate inventories while crude stocks fell 2.213 million barrels. Crude oil imports slipped more than 5.0% from last week's pace to 8.808 million barrels per day. The refinery operating rate was 90.3%, up 1.2% from last week.

At 8:45 a.m. ET

Oct WTI Crude ( NY ) $83.94 -1.38

Oct Brent Crude ( ICE ) $110.12 -0.50

Oct Natural Gas ( NY ) $3.92 -0.011

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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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