November Nymex WTI prices are trading just below unchanged levels Wednesday after falling for a second consecutive session the previous day. November WTI futures ended Tuesday’s session 59 cents lower at $91.89 a barrel, after supply data showed US crude stockpiles climbed for a fourth week. WTI futures fell around 0.4% after data released by the American Petroleum Institute (API) showed that inventories rose less than expected last week, adding 462,000 barrels, against market expectations for a build of 1.5mln barrels. Focus now turns to the release of the weekly estimates from the US Energy Information Administration (EIA) for the week ending Sep 28, due to be published later today at 1430GMT. WTI prices have been tied to a narrow range during Asian traded hours this morning, picking up from a session low of $91.51 to post an intra-day high of $91.82, with the market currently trading just below unchanged levels at $91.77 a barrel, down 12 cents on the session.
EasyForexNews Research Team