• / Free eNewsletters & Magazine
  • / My Account
Home>Oil Futures Slightly Lower in Subdued Trading

Related Content

  1. Videos
  2. Articles
  1. Bernstein: How Overgrazing Ruins Alpha

    As more investors flock to the hottest alternative asset class, the more its alpha will shrink toward negative territory as expenses overwhelm the returns, warns financial specialist Bill Bernstein.

  2. A Primer on Managed Futures

    Altegris' Matt Osborne explains the reasons behind the growing popularity of managed- futures strategies and how investors should approach these types of funds.

  3. Will Trends Reverse for Managed Futures ?

    AQR's Brian Hurst discusses why trend-following strategies have struggled recently and how his firm is positioning its managed futures portfolios to offer investors a smoother ride.

  4. The Case for Managed Futures

    The AQR Managed Futures management team--Morningstar's 2013 Alternatives Fund Manager of the Year award winner--describes what the fund's diversified trend-following approach can add to a portfolio.

Oil Futures Slightly Lower in Subdued Trading

Oil Futures Slightly Lower in Subdued Trading

08/28/2014

 By Eric Yep 

Crude-oil futures fell slightly in Asia Thursday as trading remained subdued in a well-supplied market.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in October traded at $93.57 a barrel at 0523 GMT, down $0.31 in the Globex electronic session. October Brent crude on London's ICE Futures exchange fell $0.13 to $102.59 a barrel.

Nymex crude-oil prices didn't react much to data that showed U.S. oil stocks fell 2.1 million barrels to 360.5 million barrels--the lowest level since Jan. 31--in the week ended Aug. 22.

"A crude stock decline was driven by continuing high refinery operations," BNP Paribas said in a report. However, crude stocks at the Nymex delivery point of Cushing, Okla., rose for a fourth successive week, by 500,000 barrels.

"Record-setting liquid fuels production growth in the United States has more than offset the growth of unplanned global supply disruptions over the past few years," the U.S. Energy Information Administration said.

It said U.S. liquid fuels production, including crude oil, grew by more than 4 million barrels a day from January 2011 to July 2014, offsetting supply disruptions of around 2.8 million barrels a day.

Oil markets remain complacent due to this rising supply.

On Wednesday, Kiev accused Moscow of sending tanks into rebel-held areas in eastern Ukraine and seizing several villages in a new offensive. In Iraq, the U.S. is planning a wider military campaign against Islamist militants with expanded airstrikes and humanitarian-aid drops.

blog comments powered by Disqus
Upcoming Events
Conferences
Webinars

©2014 Morningstar Advisor. All right reserved.