NYMEX sees sixth consecutive weekly decline

摘要

New York-NYMEX December RBOB settled 2.6 cents lower at $2.6577/gal Friday, paring gains from a rally a day earlier, while crude futures ended the session near flat though still down for the sixth week in a row. NYMEX crude edged higher but still post- ed "its sixth consecutive weekly decline," said Matt Smith, editor of the Daily Distillation, in a note. "As US production continues to push on to multi-decade highs, and as stockpiles at Cushing, Oklahoma, rebound 17% from the lows of five weeks ago, WTI prices are facing gale-force headwinds."