Thursday, June 19, 2014

WTI decline as production rose

WTI crude slid 0.4 percent today to $105.97 a barrel on the New York Mercantile Exchange. The grade is up 4.3 percent this quarter. Brent, the European benchmark, climbed 0.7 percent to $114.26, for a 6 percent gain in the quarter. U.S. gross domestic product will increase 2.2 percent this year and 3 percent in 2015, following a 1.9 percent gain in 2013, U.S. crude production increased 17,000 barrels a day to 8.477 million, the most since October 1986. Output has surged this year as a combination of horizontal drilling and hydraulic fracturing, or fracking, has unlocked supplies trapped in shale formations, including the Bakken in North Dakota and the Eagle Ford in Texas.

Read more on our website,

No comments:

Post a Comment