Traders are standing by Platts, the company that provides benchmark prices for much of the world’s energy products, amid a European probe into market manipulation.
West Texas Intermediate crude was little changed as equities gained on speculation of central-bank stimulus measures after economic reports from the U.S. and Europe missed forecasts.
West Texas Intermediate crude fell for a fourth day, the longest stretch of declines this year, on forecasts that U.S. supplies climbed from an 82-year high.
Vector Commodity Management LLP’s assets under management slumped 86 percent this year after losing money since 2011.
Today’s U.S. natural gas storage report is the most important of the year as it may support last week’s data that sent prices down by the most in nine months, according to Schork Group Inc.
Natural gas futures declined in New York before a report that may show a larger-than-average stockpile gain.
Natural gas futures fell in New York before a report predicted to show an above-average gain in U.S. stockpiles as warmer weather reduced demand for the heating and power-plant fuel.
West Texas Intermediate crude gained the most in almost six months as the number of Americans filing applications for unemployment benefits slipped and the European Central Bank reduced interest rates to a record low.
Natural gas prices in the U.S. Northeast are poised to reach five-year seasonal highs this summer because increasing demand from power plants may be too much for pipelines to handle.
West Texas Intermediate crude fell, capping a monthly drop, before a report that may show that U.S. supplies climbed to a 22-year high. WTI’s discount to Brent oil narrowed to less than $9 a barrel.
"Blaming Platts is akin to shooting the messenger."
- Stephen Schork on May 15, 2013
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