Crude oil hits new record

Earlier in the session, the March contract, which expired today, hit a record all-time high of $101.32 a barrel. Short-covering contributed to the rise as investors bought back any remaining bets that oil prices would fall.

“Supply worries and comments by some OPEC members that the group might not raise output at their March meeting provided the catalyst for the sharp rally,” noted Barclays Capital in a research report.

The latest US inventories data are due for release on Thursday with

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: