US Crude Back Above $100 as Expiry Looms, Inventories Fall

摘要

Front-month US crude futures moved back above $100 and narrowed their discount versus Europe's Brent benchmark to less than $7 on Wednesday, as total US crude inventories showed a large increase but stocks at the crucial trading hub in Cushing, Oklahoma, dipped below 30 million bbl. The April Nymex WTI crude contract, which will expire on Thursday, closed up 67￠ at $100.37 per barrel in New York, while the May contract gained 25￠ to settle at $99.17.