Commodity Closing – Europe/Oil-Gas Majors 04.10.18
Oil held just below four-year highs on Thursday, supported by the imminent loss of Iranian supply as a consequence of impending U.S. sanctions. Levels were checked on the upside by the prospect of a rapid production increase from Saudi Arabia and Russia. Meanwhile, Oil traders have piled into wagers that U.S. crude oil could surge to $100 a barrel by next year, a milestone that until recently many considered unthinkable due to record U.S. production growth and relatively flat global demand. At the moment momentum suggests traders will seek to push crude higher, but against a backdrop of increasing trade tensions and the worry of a slowing global economy, the bullish trend seems suspect.
| NYMEX Crude Oil |
74.77 USD
|
-1.64
|
-2.19% | |||
| ICE Brent Crude |
85.06 USD
|
-1.23
|
-1.45% | |||
| NYMEX RBOB Gasoline |
2.11 USD
|
-0.03
|
-1.56% | |||
| Dubai Crude Spot |
83.06 USD
|
-0.87
|
-1.05% | |||
| ICE Gas Oil |
738.75 USD
|
-2.00
|
-0.27% | |||
| NYMEX No2 Heating Oil |
2.40 USD
|
-0.03
|
-1.34% | |||
| NYMEX Nat Gas |
3.19 USD
|
-0.04
|
-1.25% | |||
| ICE NBP Nat Gas |
75.35 GBP
|
+1.43
|
+1.90% |