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Commodities Briefing - Categorized | Market Moves, Oil more

Crude rises as fuel-price gain spurs demand for oil

Posted on 14 November 2013

West Texas Intermediate crude rose on speculation that increasing refinery profits from making gasoline and heating oil will bolster use of the raw material.
Futures advanced 0.9 percent as the margin to turn crude into fuel, expressed by the so-called crack spread, climbed to the highest level since August. Gasoline jumped on forecasts that a government report tomorrow will show supplies fell for a fifth week. WTI’s discount to Brent oil widened to the most in seven months as unrest in Libya disrupted exports………………………………………..Full Article: Source


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