U.S. benchmark crude oil (U.S.) West Texas Intermediate (WTI) fell slightly and traded near five-week highs. The gains came after U.S. economic data signaled the growth of the largest crude oil consumer in the world.
WTI fell after durable goods orders and home prices rose more than economists forecast. In addition, the American Petroleum Institute (API) said crude inventories rose 3.7 million barrels last week. While the Energy Department report showed an increase of 1.3 million.
Bloomberg launched on Wednesday (03/27/2013), WTI oil futures for May delivery fell 18 cents to USD96, 16 per barrel, down 18 cents, in electronic trading on the New York Mercantile Exchange. Volume traded futures trade, down 12 percent below the average of 100 trading days.
While the European oil benchmark, London Brent for May delivery rose $ 1, 19 or 1.1 percent to USD109, 36 per barrel on the London-based Futures Europe ICE yesterday. The disparity between the two Minya crude closed at a premium USD13, 02 per barrel.
Durable goods orders, or bookings for goods in the U.S. rose 5.7 percent in February, the most since September. The median forecast of 80 economists surveyed said the increase is only 3.9 percent.
Another report showed new home sales in February recorded the two best month since 2008, and the residential real sestate, prices rose in January the highest since June 2006.