Oil traded near the highest level in four months in New York after posting the longest run of weekly gains since April 2009, lifted by speculation that a global economic recovery will boost fuel demand.
Crude for March delivery was at $95.90 a barrel, up 2 cents, in electronic trading on the New York Mercantile Exchange at 10:07 a.m. London time. The volume of all futures traded was 38 percent below the 100-day average. WTI rose 0.3 percent to $95.88 last week and closed at $96.24 on Jan. 22, the highest since Sept. 17.
Brent for March settlement dropped 19 cents at $113.09 a barrel on the London-based ICE Futures Europe exchange. The volume of all futures traded was 16 percent below the 100-day average. The European benchmark contract was at a premium of $17.19 to WTI. The gap was $17.40 on Jan. 25.
Alfa Energy Group
Alfa Energy Group, an Edison Energy company, is an international energy, sustainability and technology consultant partner with 250 employees over 3 international locations. For over 25 years, Alfa has been servicing its clients’ needs through energy and water management, sustainability, and compliance consulting, and an intuitive ecosystem of user-driven energy, water, and carbon management software platforms. With coveted awards, an international industry-wide recognition, and clever simple solutions, today Alfa is partnering with clients to establish and deliver pivotal net zero strategies. Through smart energy management, the expertise and diligence of its people, transparent processes, and data management, Alfa continues to lead through its recognised gold standard of service delivery.
