Oil Advances Again Tuesday

March 22nd, 2011
in Background

OIL NORTH AFRICA Econintersect:  World oil prices advanced to approach recent highs for this cycle on Tuesday, March 22, 2011.  Spot prices were 1.6% higher in New York (WTI - West texas Intermediate - crude) and 1.4% higher in London (Brent crude).  The NYMEX futures contract increased nearly $1 more than the spot price for a 2.6% gain on the day.  Both London Brent crude spot prices and the NYMEZ futures have declined about 0.2% in after hours trading.  WTI crude spot oil does not trade after hours.

Follow up:

Details from Bloomberg:

  • WTI Cushing Spot            $104.oo    +1.6%
  • Dated Brent Crude           $115.83     +1.2%
  • NYMEX Crude Future    $104.97     +2.5%

Sources:  Bloomberg, GEI News, and The Oil Drum

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