February NYMEX WTI prices are trading marginally lower Wednesday after closing the previous day at around unchanged levels. February WTI futures ended Tuesday’s session down $0.04 at $93.15 per barrel, after trading in a $92.67 to $93.80 range. This morning, WTI futures have edged lower in a fairly tight trading range after last night’s American Petroleum Institute (API) data which showed US crude stocks rose 2.4mln barrels last week. Market participants will now be looking ahead to trade data from China due to be published Thursday. WTI prices remain modestly lower during Asian traded hours, edging lower from an intra-day high of $93.29 to hold at lows of $92.92 and now trade at $93.05 a barrel, down 10 cents on the session.
EasyForexNews Research Team