Pull Back for Crude, Broader Markets
Brent and WTI crude followed the broader markets lower, all trading down over 1 percent Wednesday. Besides an unimpressive durable goods figure sparking the sell off, the energy complex also experienced pressure from news that France had joined the U.S. and the U.K. in coordinated talks to release strategic reserves.
Light, sweet crude for May delivery on the NYMEX dropped $1.92 to $105.41 per barrel. May futures on the ICE for Brent crude settled at $124.16 per barrel, a drop of $1.38 per barrel compared to Tuesday's close.
May reformulated gasoline blendstock, RBOB, lost a penny to finish at $3.39 per gallon.
Natural gas lost 3 cents to settle at $2.29 per MMBtu for the May Henry Hub contract.
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