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Crude Oil Struggles to Stay Above $30, Natural Gas Drops

February 15, 2016 at 18:08 by Vladimir Vyun

Crude oil is trying to hang onto its earlier gains. While the West Texas Intermediate grade had some success staying above the opening level, Brent crude has basically erased its rally. March contract for WTI crude oil was up 0.65 percent to $29.63 per barrel as of 17:55 GMT on NYMEX today. Brent oil for delivery in April was virtually flat at $33.37 on ICE.

Natural gas had no trouble in determining its trading on Monday as futures demonstrated substantial losses. The reason for the decline was the outlook for warm weather in February. As the heating season draws to a close, consumption of gas wanes. March futures for natural gas dropped as much as 2.54 percent to $1.92 per million British thermal units on NYMEX.

If you have any questions and comments on the commodities today, use the form below to reply.

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