Commodities

Return to Article

Crude Oil Steady Ahead of Inventory Report

Chuck Marvin

Crude oil was trading laterally early in Wednesday's session at the New York Mercantile Exchange, with market participants apparently content on lying low until the Energy Information Administration releases this week's report on petroleum storage levels.

West Texas crude was down a hair at $140.87 a barrel, and Brent crude was adding 14 cents at $140.81. Reformulated gasoline and heating oil have both moved less than a penny.

Natural gas is showing slightly more activity, at last check gaining 9 cents at $13.59 per million British thermal units.

The EIA report is due around 10:30 EDT.

The U.S. Oil(USO Quote - Cramer on USO - Stock Picks) ETF, which tends to track the performance of near-month WTI futures on the Nymex, were half a percent lower at $114.15.