RTTN:Crude Eases From One-month High In Asian Session
(RTTNews) - The price of crude oil was ticking lower in Asian session Thursday after Iran denied reports that the country had cut oil exports to six European countries in response to European Union sanctions.
Light Sweet Crude Oil (WTI) futures for March delivery, were down $0.45 to $101.35 a barrel. Yesterday, oil ended at a fresh one-month high after the EIA's weekly report on U.S. crude oil showed an unexpected decline in inventories and on demand concerns over tensions brewing between Iran and Israel.
Wednesday during trading hours, the EIA revealed that U.S. crude oil inventories eased by 200,000 barrels while gasoline stocks moved up by 400,000 barrels in the weekended February 10. Analysts were expecting crude oil inventories to gain 1.60 million barrels and gasoline stocks to add 775,000 barrels last week.
