{"id":13193,"date":"2011-02-03T08:32:54","date_gmt":"2011-02-03T07:32:54","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/13193\/wti-oil-trading-firm-over-91-after-us-oil-supply-data\/"},"modified":"2011-02-03T08:32:54","modified_gmt":"2011-02-03T07:32:54","slug":"wti-oil-trading-firm-over-91-after-us-oil-supply-data","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/13193\/wti-oil-trading-firm-over-91-after-us-oil-supply-data\/","title":{"rendered":"WTI oil trading firm over $91 after US oil supply data"},"content":{"rendered":"

WTI oil futures open Thursday’s trading session firm over $91 a barrel after the latest oil supply data out of the US rose in line with analysts expectations.<\/p>\n

Latest WTI Oil Price<\/strong><\/p>\n

US Light crude oil futures for March 2011 delivery was trading at $91.38 a barrel, 07.20 GMT this morning on the NYMEX.<\/p>\n

American crude oil stockpiles rose 2.6 million barrels to 343.2 million barrels last week, according to the US Department of Energy.<\/p>\n

Inventories of crude oil and petrol products in the US remain well above the average range normally seen this time of year, however oil futures are seeing a boost from continuing unrest in the Middle Eastern country of Egypt.<\/p>\n

The commodities market has been jittery following more than a week of anti government protests in Egypt due to fears the crisis could spill over to other countries in the area.<\/p>\n

WTI Oil Price Remains Bullish<\/strong><\/p>\n

“NYMEX WTI crude futures could reach $95 a barrel in the near future based on macroeconomic fundamentals.” according to Jim Ritterbusch, president of Ritterbusch & Associates.<\/p>\n

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