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Crude oil figures settle

Friday, November 24, 2017

BOSTON - Oil settled at a two-year high Wednesday after the shutdown of one of the largest crude pipelines from Canada cut supply to the United States.

The restart of the 590,000 barrel-per-day (bpd) Keystone pipeline, shut last week because of a spill, could take several weeks. Operator TransCanada Corp has told clients it will cut deliveries on the pipeline linking Alberta's oil sands with US refineries by 85 per cent through the end of November.

US West Texas Intermediate crude (WTI) futures settled up $1.19, or 2 per cent, at $US58.02 ($F120) per barrel, the highest since July 2015, on concerns over reduced supplies on the Keystone pipeline and after the American Petroleum Institute (API) late Tuesday reported a 6.4 million-barrel crude drawdown for last week.

Earlier in the session, crude surged to $US58.09 ($F120.70) and then pared gains after weekly government data showed crude inventories fell 1.9 million barrels, less than in the API report.

Crude stocks at the Cushing, Oklahoma, delivery hub for WTI futures fell by 1.8 million barrels, the US Energy Information Administration said.

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Code Inward TTs Outward TTs
CAD 0.65010.6311
JPY 53.348150.3481
GBP 0.35320.3452
EUR 0.40320.3912
NZD 0.69270.6597
AUD 0.64710.6221
USD 0.49890.4819



Exchange Rate updated on 20th, March, 2018

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