NYMEX-U.S. crude extends gains on storm fears, data
PERTH, Sept 8 |
PERTH, Sept 8 (Reuters) - U.S. crude futures extended gains after rebounding to close at a five-week high in New York, fuelled by fears of supply disruptions due to stormy weather in the Gulf of Mexico and forecasts that U.S. inventory data would show a drawdown in crude stocks last week.
* On the New York Mercantile Exchange, crude for October delivery CLc1 rose 37 cents to $89.71 a barrel by 0040 GMT.
* In London, ICE Brent crude for October LCOc1 rose 34 cents to $116.14 a barrel.
* U.S. crude stockpiles may have fallen 1.9 million barrels last week, a preliminary Reuters poll of analysts showed ahead of weekly inventory reports.
* Tropical Storm Nate sprang to life in the western Gulf of Mexico on Wednesday, Tropical Storm Maria formed in the Atlantic and Hurricane Katia churned up surf along Bermuda and the U.S. East Coast, forecasters said.
* The U.S. Energy Information Administration left its 2011 world oil demand growth unchanged in its monthly forecast and cut its 2012 oil demand growth estimate by 250,000 bpd to 1.39 million barrels per day.
* Libya's new rulers sent a column of extra fighters towards the tribal bastion of Bani Walid overnight, preparing a showdown with supporters of ousted leader Muammar Gaddafi, possibly including his sons or even Gaddafi himself.
* Syrian forces backed by tanks killed at least 20 civilians in the city of Homs on Wednesday in one of the fiercest military assaults on urban centres to crush six months of pro-democracy protests.
* The Nikkei stock average rose for the second straight session on Thursday, tracking U.S. gains. The benchmark Nikkei was up 1.2 percent at 8,864.06 just after the open. The broader Topix index added 1.1 percent to 761.83.
* The euro, after jumping on the German court decision, was a little softer on Thursday around $1.4075 , as traders awaited a European Central Bank rate-setting meeting later. The U.S. dollar was also stronger against a basket of currencies, up .13 percent.
* Asian stocks rose on Thursday, as investors took heart from a German court ruling that staved off an immediate worsening of the euro zone crisis and looked towards an announcement later from U.S. President Barack Obama on a new job-creation package. European stocks rose 3.1 percent and on Wall Street the S&P 500 rose 2.9 percent . (Editing by Clarence Fernandez)
- Tweet this
- Share this
- Digg this