Oil Prices Moved Down as Analysts Forecast US Crude Stocks to Rise – NYSE:VLO, NYSE:PBR, NYSE:XOM.
NEW YORK, JANUARY 8, 2013 — (Net PR News) Oil prices slipped to some extent Tuesday as analysts forecasted an increase in U.S. crude stockpiles, underlining feeble demand for fuel.
Benchmark oil for February distribution moved down 4 cents to $93.15 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The agreement jumped 10 cents to end at $93.19 a barrel on Monday.
Analysts projected that the American Petroleum Institute and the U.S. Energy Information Administration would report an upsurge in crude oil stocks of 1.5 million barrels for the week ended Jan. 4, according to Platts, the energy information arm of McGraw-Hill Cos.
Brent crude remained unchanged at $111.40 a barrel on the ICE Futures exchange in London.
Valero Energy Corporation (NYSE:VLO)’s, Valero Terminaling and Distribution Co. , has started building a marine terminal on the lower Sabine-Neches Waterway near Port Arthur in Southeast Texas in collaboration with Houston-based TGS Development LP. The development is a 50-50 joint venture between Valero and TGS, known as PI Dock Facilities LLC.
In the last trading session, Valero Energy Corporation (NYSE:VLO) declined -2.72% to close at $34.35 with the total traded volume of 11.83 million shares. VLO has earnings per share of $2.00 and its price to earnings ratio ended at 17.16.
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Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) slipped 0.88% with the closing price of $20.19. The overall volume in the last trading session was 13.46 million shares. Its fifty two week range was $17.27-$32.60. The total market capitalization remained $131.68 billion.
PBR is ahead of its 52 week low 16.91% and its last month price volatility remained 2.78%. Its beta coefficient was 1.48 with a target price of $29.37. In its share capital, PBR has 6.52 billion outstanding shares while 2.00 billion shares have been floated in the market.
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Exxon Mobil Corporation (NYSE:XOM) reported the fall of 1.16% and closed at $87.93 with the total traded volume of 11.80 million shares in the last trading session. XOM has outstanding shares of 4.56 billion with the total market cap of 400.90 billion and its beta value stands at 0.51 times.
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