CRUDE SUMMARY: NYMEX crude oil futures gain on pipeline reports

19 March 2014 15:05 Source:ICIS News

LONDON (ICIS)--Light-sweet NYMEX crude oil futures gained in the week ended Wednesday 19 March on reports the pipeline expansion to reduce crude stocks in the landlocked Cushing, Oklahoma, delivery hub, will be completed sooner than previously expected; giving the NYMEX a boost back above $100/bbl.

However, ICE Brent retreated amid the refinery maintenance season in Europe, the Mediterranean and parts of the Asia-Pacific, which is denting demand for crude.

Crude oil

19 Mar*

12 Mar

05 Mar

26 Feb

ICE Brent

105.95

108.02

107.76

109.52

WTI

100.30

97.99

101.45

102.59

Front month - $/bbl, *Afternoon trading

By Kawai Wong