.S. crude oil futures fell 1.5 percent on Wednesday traded heavy volume after a key crude oil pipeline to reduce the throughput can be further increased worries aggravate market inventory of the Midwest contract delivery point.
Economic data provide support for Brent crude oil futures above the flat plate so that it held in U.S. crude oil futures in afternoon trading, fell the daily transport capacity of 40 million barrels of crude oil carriers previously received notice of the new expansion of the Seaway pipeline conveying The amount has been reduced to 17.5 million barrels a day currently the Seaway pipeline unclear when to resume full throughput.
The Seaway pipeline Cushing crude oil shipped to the U.S. Gulf Coast. Seaway pipeline to reduce throughput materials will enable Cushing inventories increased earlier this month, Cushing stock has hit a record high.
Seaway pipeline news to go wide to Houbulante crude oil than the U.S. West Texas Intermediate crude oil (WTI) liters of water per barrel $ 17.50 This is the highest level in 15 January.
"Cushing crude stocks at record highs traders bet on this pipeline will be helpful and narrowing the Brent Crude futures and West Texas Intermediate oil spreads" said Andy Lebow, vice president of Jefferies Bache. .
"This or bad West Texas Intermediate oil," he adds.
In recent months, U.S. crude oil futures fell $ 1.45 to settle at $ 95.23 a barrel end after four consecutive days rally rally round to make the contract 14-day relative strength index higher than 70 at this level usually implies a commodity in the super- buy level.
Traded heavy volume of U.S. crude trading volume compared to the previous 30-day average of more nearly doubled. Brent crude oil trading volume compared to its 30-day average 60% higher.
Brent crude futures rose $ 0.38 to settle at $ 112.80 a barrel.
Brent crude early to get the support of the British Bureau of Statistics announced Wednesday that the United Kingdom in December claiming unemployment benefits decreased 12,100 people (estimate for flat); unemployment rate was 4.8%. Britain in the three months ended in November, according to the ILO standard The calculation of the unemployed population decreased by 37,000 people; unemployment rate was 7.7% (estimated 7.8%).
The American Petroleum Institute (API) on Wednesday announced that the United States last week crude oil inventories increased 3.2 million barrels of gasoline inventories fell 1.6 million barrels of distillate stocks increased by 1.3 million barrels.
The Energy Information Administration (EIA) will be inventory data released Thursday.