Commodity Corner: WTI, Brent Settle Higher
Thanks to rising equities markets, the WTI and Brent benchmarks posted gains Tuesday.
Light sweet crude oil for November delivery gained 2.3 percent to settle at $88.34 after trading within a range from $85.55 to $89.03. After peaking at $111.83, the Brent slid to end the day at $111.15— representing a nearly one-percent net gain for the day. The intraday low for Brent was $108.45.
The Dow Jones Industrial Average and Nasdaq averages each were up approximately 1.6 percent Tuesday while the S&P 500 gained slightly more than two percent after Bank of America posted stronger earnings for the third quarter.
Front-month natural gas lost 3.8 percent Tuesday, settling at $3.55 per thousand cubic feet. The November contract traded within a range from $3.54 to $3.70.
November reformulated gasoline edged upward to end the day at $2.75. It fluctuated from $2.68 to $2.77.