Oil Falls on US Inventory Increase
Oil – Bloomberg reported that West Texas Intermediate oil dropped for the fourth time in 5 days after data showed an increase in US inventories, higher than last week’s forecast.
Articles Tagged "energy information administration"
Fracking Threatens OPEC Dominance on US Oil Production Surge
Oil – Bloomberg reported that a surge in United States oil production has led to the country’s biggest output level in over 2 decades, thus threatening OPEC dominance.
Oil Prices Climb on Supply Concerns and Bernanke Comments
Oil – Oil prices gained as much as 1 percent with analysts offering further support; expecting a decline of 1 million barrels of U.S. oil supplies from 363.2 million last week. Oil inventories have not fallen nationwide for two consecutive weeks since January.
Advantage: Crude
Crude Investing News reports crude oil fell due to inventories. Inventories of crude oil dropped 978,000 barrels to 337.4 million, the report showed. A 2 million-barrel gain was forecast by analysts. Supplies are 10 per cent above average. Imports fell 4.6 per cent to 9.1 million barrels a day last week. At just under $70 [...]
