OIL Set for biggest monthly gain since 2009!

original

(Reuters) – Oil headed for the biggest monthly advance since May 2009 as U.S. crude production growth slowed and inventories declined at the nation’s largest storage hub.
Oil has rebounded from a six-year low in March as drillers cut the rig count to the fewest since 2010, adding to signs that the surplus glut of U.S. crude stockpiles is declining.

West Texas Intermediate for June delivery was at $59.70 a barrel in electronic trading on the New York Mercantile Exchange, up 7 cents, at 11:51 a.m. Sydney time. The contract gained $1.05 to $59.63 on Thursday. The volume of all futures traded was about 70 percent below the 100-day average. Prices are up 12 percent this year.

U.S. Stockpiles

Brent for June settlement was 9 cents lower at $66.69 a barrel on the London-based ICE Futures Europe exchange. The contract rose 21 percent in April, also the most since May 2009. The European benchmark crude was at a premium of $6.99 to WTI, compared with $8.13 on April 24.

READ FULL ARTICLE HERE

Aschere Energy is Currently drilling in “a World Class Producing Region” , Click here to receive information on our Latest Project.

SAFE HARBOR STATEMENTS:
Certain statements in this blog post may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release and other potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statement.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: