188203 Resource 133514 119453 119453 1193917944082 1193917944082 Controlled Oil hit a new record above $94 a barrel

Oil futures trading

<p class="MsoNormal" style="MARGIN: 0in 0in 10pt"><font face="Calibri" color="#000000" size="3">On Wednesday, after an unexpected fall in US crude inventories, many trader&rsquo;s expectations were fueled of the possibility that oil futures prices will reach the key $100 level. </font></p><p class="MsoNormal" style="MARGIN: 0in 0in 10pt"><font face="Calibri" color="#000000" size="3">As crude rose above $94 a barrel, futures traders and analysts said there were few significant resistance points restraining a move to the $100 level. </font></p><p class="MsoNormal" style="MARGIN: 0in 0in 10pt"><font face="Calibri" color="#000000" size="3">Nymex December West Texas Intermediate rose $3.95 to $94.33 a barrel after hitting $94.74, a record, while ICE December Brent rose $3 to $90.44.</font></p><p class="MsoNormal" style="MARGIN: 0in 0in 10pt"><font face="Calibri" color="#000000" size="3">The latest US inventories report showed crude stocks declined by 3.9m barrels last week, confounding the consensus market forecast of a rise of 600,000 barrels. </font></p><p><span style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%; FONT-FAMILY: "Calibri","sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-bidi; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA"><font color="#000000">A significant factor in driving prices higher was a sharp fall in crude stocks at Cushing, Oklahoma, the delivery point for WTI.</font></span></p><p><span style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%; FONT-FAMILY: "Calibri","sans-serif"; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-bidi; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA"><a href="http://www.ft.com/cms/s/0/5d7c9cb0-87a5-11dc-9464-0000779fd2ac.html">Read the full story</a></span></p> 9 application/xml false futures trading NYMEX oil costs oil futures oil trading online futures trading http://www.gftfutures.com/land/index.asp?aid=6 Mozilla/4.0 (compatible; MSIE 7.0; Windows NT 5.1; .NET CLR 1.1.4322; .NET CLR 2.0.50727; InfoPath.2) 127.0.0.1 127.0.0.1 tgort false true false false true 133514 blog blogsite/GFTUK/web