WTI crude oil price ends week back near $110 a barrel
BonTradeWTI oil prices ended the week back near $110 a barrel after the latest US economic data showed an increase in industrial production, easing fears that higher oil prices would slow US economic growth by raising costs for businesses.
WTI Oil Futures – Closing Price
US Light crude oil futures for May 2011 delivery ended the week’s trading session at $109.66 a barrel on the NYMEX, $3.13 a barrel lower than last week’s closing price of $112.79.
“It’s a combination of the data we’ve received and some short covering. Volatility is still there, and you don’t want to have a short position going into the weekend.” said Lind Waldock broker Rich Ilczyszyn.
The sharp rise in oil prices so far this year had sparked a pullback in WTI oil futures this week, with traders and investors both concerned that the higher cost of oil would lower spending by businesses and push consumers to trim their budgets.
- WTI oil prices in 2011, most bet $100 plus oil is ahead
- WTI oil trading firm over $108, OPEC unable to help out
- WTI oil price closes week at 30 month high over $105
- WTI oil firm at $92, investors bet prices will trade higher
- WTI oil trading firm over $91 amid higher US oil data
- WTI oil trading near $84 on latest US oil supply figures
- WTI oil price back near $72 amid a higher US dollar
- WTI oil price closes under $74 a barrel on higher dollar
- WTI oil price hangs near $108, US dollar remains weak
- WTI oil trading firm over $104 amid higher US inventories
- WTI oil trading at $105, China & US demand supports prices
- WTI oil price ends week at $101 on Middle East & Libya
- WTI oil price looks cheap at $100 on Bahrain tensions
- WTI oil trading near $105 amid rising US oil inventories
- WTI oil trading firm at $105, US Dollar Index makes gains
- WTI crude oil opens trading over $106, will go higher
- WTI oil trading firm at $102, US jobs data supports prices
- WTI crude oil trading over $101 prices look very bullish
- WTI oil price slips back under $88 ahead of US oil data
- WTI crude oil price surges to $89 on traders buying frenzy
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WTI crude oil price ends week back near $110 a barrel
