Tuesday, October 22, 2013

WTI suffering for the second day

WTI suffering for the second day

For the second day West Texas Intermediate is under $100 per barrel, as traded yesterday at $101.21 per barrel as the day high, then fall scoring $99.28 per barrel as the day low, with average trading price $99.80 per barrel, today can be the worst in seven weeks, as the market opened at $99.37 per barrel which is lower than Monday closing price scoring late high at $99.57 per barrel.

That perhaps due to the low demand on WTI delivery, which came with the Brazilian Auction about two new giant fields in the deep water.  Many companies battling for that contract, those called Libra field contains more than 12 billion barrels or China’s three years consumption.

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