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shenadcuueDate: Wednesday, 26 Jun 2013, 12:58:55 | Message # 1
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Oil prices were weighed down by a transcript of the latest Fed meeting that showed some policymakers expressing doubts about the central bank's bondbuying program. If the Fed curtails or ends the program earlier than anticipated, that could affect economic growth.
Data for the week ended Feb. 15 is expected to show a build of two million barrels in crude oil stocks and a draw of 1.4 million barrels in gasoline stocks, according to a survey of analysts by Platts, the energy information arm of McGrawHill Cos. Ample supplies tend to lower prices. gallon (3.79 litres), wholesale gasoline was down 6.95 cents to US$3.189 a gallon and natural gas dropped 1.3 cents to US$3.266 per 1,000 cubic feet..
By early afternoon in Europe, benchmark West Texas Intermediate crude for April delivery was down $1.44 to $93.78 a barrel in electronic trading on the New York Mercantile Exchange. On Wednesday, the contract lost $1.88, or two per cent.
crude inventories.
"The extremely high trading volume on the oil market . suggests that financial investors, and allegedly even a hedge fund, have liquidated long positions," said a report from Commerzbank in Frankfurt.
Analysts say that ending the supply of new money to the economy would also deprive some investors of cash to use speculatively in markets such as crude oil.
锘?4 ahead of US inventory data


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