Oil adds to losses after surprise supply increase *PIC*

Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

Forum Policy

Return to Index

TFC Commodity Trading Forum

Oil adds to losses after surprise supply increase (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Crude-oil futures added to losses Wednesday after a weekly government inventories report showed a surprise increase in supplies in the week ended Jan. 6. Crude for February delivery lost $1.55, or 1.6%, to $100.66 a barrel on the New York Mercantile Exchange. The Energy Information Administration reported an increase of 5 million barrels in stockpiles of crude. Analysts polled by Platts had expected an decrease of 1 million barrels. Gasoline inventories rose 3.6 million barrels, compared to analyst expectations of an increase of 1.8 million barrels. Distillates stocks were up 4 million barrels. The analysts polled by Platts had expected an increase of 1.4 million barrels.

Forum Policy

Return to Index