New York's main futures contract, West Texas Intermediate (WTI) for delivery in March, inched up to US$100.1 following volatile trade earlier in the day. WTI closed above $100 on Monday, bolstered by falling US inventories which indicate bigger demand, as reported by Agence France-Presse.
Brent North Sea crude for March delivery inched up to US$108.70. US oil prices remained above $100 a barrel in Asian trade Tuesday on stronger demand, but trading was subdued ahead of new Fed chief Janet Yellen's testimony to Congress. Investors await the testimony in Congress this week by Yellen, who took over from Ben Bernanke as chair of the US central bank, where legislators are expected to be briefed on the state of the US economy and the direction of monetary policy. Global markets are closely watching the pace of the winding down of the government's massive stimulus package for the US economy.
13-Feb-14 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}