Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
Story Views
Now:
Last hour:
Last 24 hours:
Total:

MTECHTIPS;-U.S. Crude Continues Climb, but Producer Hedging Emerges at $58

% of readers think this story is Fact. Add your two cents.


MTECHTIPS;-U.S. Crude Continues Climb, but Producer Hedging Emerges at $58

 

MTECHTIPS-The higher WTI goes, the greater the inclination for producer hedging. U.S. crude futures rose for a fourth-straight day on Thursday, with oil bulls riding the momentum of the previous session’s 2% rally, which came on the heels of unexpectedly bullish supply-demand data released by the government. But gains in the latest session were small, limited by talk — and at least some emerging signs — that producers were lining up to hedge, or sell, their supply after the West Texas Intermediate benchmark crossed the critical $58-per-barrel resistance on Wednesday. And while WTI rose again, U.K. peer and global benchmark Brent fell, showing headwinds building against an oil rally that many say still defies weakening global economic data, particularly from China and Europe. WTI settled up 35 cents, or 0.6%, at $58.61 per barrel, hitting a new 2019 high of $58.74 earlier. The four-day rally was WTI’s biggest winning streak in a month, putting the U.S. crude benchmark on track to a weekly gain of more than 4%. Brent, meanwhile, fell 39 cents, or 0.6%, to $67.16 by 3:35 PM ET (19:35 GMT). But it remained on course to a gain of 2.4% on the week. More importantly, WTI’s outperformance versus Brent has narrowed the gap between two, upending spread positions held by many traders who had expected the differential to remain steady at around $10 a barrel in the U.K. benchmark’s favor. In Thursday’s trade, the gap was down to around $8.75 or so

 

MTECHTIPS-Apply For 2 Days Free Trails Equity & Commodity Tips



Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover -  Reduces Smart Meter radiation by 96%! (See Video).

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.