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 turns higher after supplies decrease *(WTIC) *PIC*

Oil turns higher after supplies decrease (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Crude-oil futures turned higher Thursday after a weekly government report showed a steep decline in inventories in the latest week. Crude for August delivery (clq2) advanced 20 cents, or 0.2%, to $87.79 a barrel on the New York Mercantile Exchange. Oil had traded at $87.56 shortly before the data. The Energy Information Administration said crude supplies declined 4.3 million barrels in the week ended June 29. Analysts polled by Platts had expected a decline of 2 million barrels. The EIA also reported a rise of 200,000 barrels for gasoline inventories, and a decline of 1.1 million barrels for supplies of distillates. The analysts surveyed by Platts had expected gasoline stockpiles unchanged and an increase of 500,000 barrels for distillates.