Welcome to the TFC Commodity Trading Forum.
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.

TFC Commodity Trading Forum

Oil prices extend gains as U.S. supply slips

Oil prices extend gains as U.S. supply slips (CLJ11) (by Myra P. Saefong)

SAN FRANCISCO (MarketWatch) -- Crude-oil futures extended their gains Wednesday after the Energy Information Administration reported an unexpected decline in last week's U.S. crude supplies. Crude supplies were down 400,000 barrels for the week ended Feb. 25 to stand at 346.4 million, according to the EIA. Motor gasoline supplies fell 3.6 million barrels and distillate stocks lost 800,000 barrels in the latest week. Analysts polled by Platts had expected crude stocks to be up 1.6 million barrels, and gasoline stocks to increase 900,000 barrels. Distillates supplies were seen down 1.8 million barrels. Following the news, April crude (CLJ11) was up $1.08 at $100.71 a barrel.

Messages In This Thread

Oil prices extend gains as U.S. supply slips