Surprise Supply Decrease FAILS to lift OIL futures *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

Surprise Supply Decrease FAILS to lift OIL futures (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Crude-oil futures pared losses Wednesday somewhat after a weekly government report showed a surprise decrease in inventories, but remained under pressure from concerns about the euro zone. Oil for November delivery (clx2) declined $2.11, or 2.3%, to $89.21 a barrel on the New York Mercantile Exchange. The Energy Information Administration reported a decrease in crude inventories by 2.4 million barrels for the week ended Sept. 21. Analysts polled by Platts had expected an increase by 1.5 million barrels. The EIA also reported gasoline inventories down 500,000 barrels, and stockpiles of distillates, which include heating oil, also down 500,000 barrels. The analysts surveyed by Platts had forecast gasoline supplies unchanged and distillates inventories up 1 million barrels.

Forum Policy

Return to Index