NewsFlashRita: WTI jumps $1.63/bbl on damage reports

26 September 2005 21:30  [Source: ICIS news]

HOUSTON (ICISnews)--American benchmark crude rose $1.63 to $65.82/bbl on the New York Mercantile Exchange (Nymex) on Monday after damage assessments from Hurricane Rita suggested energy supplies will have a slow recovery.

 

West Texas Intermediate (WTI) for November delivery marked an intra-day low of $62.93/bbl on Monday following encouraging damage reports but then rebounded to a high of $65.90.

 

The heating oil complex on the Nymex led the rally on worries that lengthy refinery outages will result in low winter inventories. Heating oil for October delivery closed 10.96 cents/gal higher, at $2.06/gal.

 

In the London International Petroleum Exchange (IPE), Brent settled $1.47 higher, at $63.91 after trading between $61 and $63.99.

By: Ignacio Sotolongo
+1 713 525 2653

< previous article(ICIS Chemical Business podcast November 2, 2009)

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