Singapore, 24 September (Argus) — Crude futures fell in today's after-hours trade as the market worried about rising US crude and products supplies.
At 07:30 GMT, the front-month Nymex November WTI crude contract was at $68.68/bl, lower by 29¢/bl from its close yesterday when the contract ended $2.79/bl.
The Ice November Brent crude contract fell by 10¢/bl to $67.89/bl.
Nymex October heating oil fell by 1.08¢/USG to $1.7486/USG, while Nymex October RBOB gasoline fell by 0.49¢/USG to $1.70/USG.
Oil prices have retreated amid bearish EIA data, which showed a 2.8mn bl increase in US crude stocks when the market had expected a decline. The EIA report also showed large increases in US distillates and gasoline stocks as demand dropped.
Weak equities markets also weighed on oil prices. Key US economic data, including unemployment benefit claims and home sales statistics, will be out later today and watched closely for indications of the rate of the US economic recovery.
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