WTI Crude Rises for Second Day; Goldman Forecast Changes
This article is for subscribers only.
West Texas Intermediate rose for a second day after China reported inflation eased more than forecast last month. U.S. crude stockpiles probably increased to the highest level in 22 years, a Bloomberg survey showed.
Futures gained as much as 0.5 percent in New York after advancing the most in almost two weeks yesterday. Goldman Sachs Group Inc. forecast that supplies at the U.S. delivery hub in Cushing, Oklahoma, will shrink at the end of next month, and pushed back its recommendation for trading the discount on WTI versus Brent. U.S. crude inventories climbed by 1.5 million barrels in the week to April 5 to 390 million, according to a Bloomberg survey before the Energy Department releases data tomorrow.