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Oil futures – Nymex crude holds steady

  • Market: Biofuels, Biomass, Coal, Corporate, Crude oil, Electricity, Emissions, Freight, Fundamentals, LPG, Natural gas, Oil products, Petroleum coke, Politics
  • 29/09/09

Singapore, 29 September (Argus) — Crude futures were largely steady in today's after-hours session, trading just below $67/bl as the market sought direction from US stocks data.

At 08:30 GMT the front-month Nymex November WTI crude contract was at $66.93/bl, higher by just 9¢/bl from its close yesterday when the contract ended 82¢/bl higher.

The Ice November Brent crude contract rose by 5¢/bl to $65.59/bl.

Nymex October heating oil fell by 0.24¢/USG to $1.6885/USG, while Nymex October RBOB gasoline fell by 0.15¢/USG to $1.6365/USG.

Firmer Asian equities market provided support to oil prices, although concerns about high US oil stocks and a slow oil demand recovery capped gains.

Data from American Petroleum Institute (API) are due out later today, amid expectations of an increase in crude and products stocks. US EIA data will be released tomorrow.

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