Crude Gives Back Gains

After a strong rally Monday, crude oil futures gave back a fraction of the gains Tuesday. Specifically, WTI finished the day $1.22 lower settling at $104.55 per barrel. The release of the Federal Reserve's March Minutes, which were interpreted to signal a diminishing prospect of more intervention from the Feds, caused a little more investor weariness than usual with the S&P 500 losing one-half percent on the day.

Brent crude also settled 57 cents lower at $124.86 per barrel for the May futures contract.

Interestingly, both gasoline and natural gas prices traded up on Tuesday. May reformulated gasoline blendstock added a penny to $3.395 per gallon. May natural gas improved nearly 4 cents on the day to settle at $2.187 per MMBtu.
 

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Sr District Account Manager
Expertise: Sales
Location: New Orleans, LA
 
Technical Service Representative-Service Engineer
Expertise: Sales
Location: Borger, TX
 
Project Engineer/Project Manager
Expertise: Project Management
Location: Baton Rouge, 
 
search for more jobs

Brent Crude Oil : $55.23/BBL 0.46%
Light Crude Oil : $52.75/BBL 0.62%
Natural Gas : $3.24/MMBtu 1.25%
Updated in last 24 hours