Oil Has a Wild Day

March 14th, 2011
in econ_news

OIL NORTH AFRICA3 Econintersect:  If some one looked at the change for the day for WTI (West Texas Intermediate crude oil on the NYMEX today (Monday, March 14), they might yawn at the change from Friday's close:  +$0.03.  However, the spot price for WTI plunged $2.98 in the morning before rallying in the afternoon to end the day essentially unchanged.  The nearest futures contract on the NYMEX added 0.2%.  In London Brent crude gained 0.5%.

Follow up:

  • WTI Cushing Spot            $101.19    +0.03%
  • Dated Brent Crude           $113.49    +0.5%
  • NYMEX Crude Future    $101.39    +0.2%

Sources:  Bloomberg, Seattlepi.com and Yahoo Finance

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