Crude oil prices rose on Thursday traded heavy volume boosted by the euro area and the United States strong economic data in the U.S. crude oil prices get an extra boost in the week due to expected Seaway pipeline may resume full operations.
Enterprise Products Partners operators Seaway pipeline, said Thursday that no Seaway pipeline full restoration of transport timetable the company said the the Seaway pipeline transportation decline is because of high inventory in Texas, Jones Creek, which is due to the vicinity of the refinery factors within the control of non-corporate and pipeline caused.
Trading sources said they believe the Seaway pipeline will be reinforcement will be restored within a week or transported.
March Brent crude futures rose $ 0.48 to settle at $ 113.28 U.S. dollars per barrel in intraday opinions three-month high of $ 113.65, but the increase is suppressed due to rising global crude oil supply.
U.S. crude oil futures rose $ 0.76 to settle at $ 95.95 a barrel, fell 1.5 percent decline in the rebound from Wednesday through the delivery of the Seaway pipeline increasing.
U.S. crude oil futures prices rose by more than Brent crude oil futures and Brent crude oil futures over U.S. crude contango narrowed to $ 17.33 based on the settlement price Wednesday liters of water for $ 17.57.
New York Mercantile Exchange (NYMEX) traded heavy volume U.S. crude trading volume was 30% higher than the 30-day moving average. The Brent Crude turnover was 25% higher than the 30-day moving average.
China and the euro zone purchasing managers index (PMI) encouraging U.S. weekly initial jobless claims dropped as well as the strong U.S. manufacturing data supported the oil market.
The signs of economic data in order to find the increase in demand for fuel oil market has been closely watching the big oil consumer. U.S. weekly initial jobless claims fell to the lowest level since January 2008 and hit the manufacturing sector the strongest performance since March 2011.
The U.S. Energy Information Administration (EIA) reported U.S. weekly gasoline stocks fell by 174 million barrels estimated to 2.3326 million barrels to an increase of 1.5 million barrels. Data bring support to push the high gasoline prices for gasoline futures.
U.S. RBOB gasoline futures rose about 1% rose for the sixth day this is the longest rally in December 2011.