[video] Quick Take: Brent, WTI and the Fed
NEW YORK (TheStreet) -- Crude oil inventories have fallen. TheStreet's Joe Deaux spoke to Ray Carbone, president of Paramount Options, about how that might affect energy prices.
WTI crude oil prices have remained in a tight range since the Energy Information Administration report Wednesday. Brent crude oil has ticked slightly higher.
Carbone said the market has remained pretty quiet heading into the holidays, a time where trading volumes are generally light.
He added that the pending monetary policy announcement from the Federal Reserve is also responsible for keeping many traders on the sidelines because that announcement could violently push the market in one direction or another.So with only a handful of trading days left in 2013, what should investors expect for the price of WTI crude oil? Carbone thinks it is most likely to remain rangebound between $92.50 and $100. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts