Singapore, 11 March (Argus) — Nymex crude futures pared gains in today's after-hours trade, slipping below $82/bl as the market remained cautious about predicting a recovery in global oil demand.
At 08:30 GMT the front-month Nymex April WTI crude contract was at $81.65/bl, falling by 44¢/bl from its close yesterday when the contract ended 60¢/bl higher.
Ice April Brent crude fell by 45¢/bl to $80.03/bl.
Nymex April heating oil fell by 1.03¢/USG to $2.1059/USG, while Nymex April RBOB gasoline fell by 1.08¢/USG to $2.2743/USG.
Oil prices firmed yesterday with US EIA data showing a large decline in US weekly stocks of gasoline and distillates. But the data also showed an increase in US crude inventories, while refinery utilisation rates were lower, likely contributing to the draw in product stocks.
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