Market Chatter: WTI Crude Advances to Five-Week High on U.S Durable Goods
"West Texas Intermediate crude advanced to the highest level in almost five weeks as U.S. orders for durable goods climbed more than forecast in February," Bloomberg reported.
It said: "Futures gained for a third day after the Commerce Department said bookings for goods meant to last at least three years rose the most since September. Oil trimmed its rally as U.S. consumer confidence fell more than forecast in March."
"WTI for May delivery climbed 71 cents, or 0.7%, to $95.42 a barrel on the New York Mercantile Exchange after rising to $95.88, the strongest intraday level since Feb. 20. Prices are up 4% in 2013. Brent for May settlement slid 6 cents to $108.11 a barrel on the London-based ICE Futures Europe exchange."
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