Oil Futures Bouncing After Inventory Data
Tweet
Share
E-mail
Crude Oil Futures, which are often trading using the ETF (NYSE: USO), are bouncing in mid-day trading after the DoE reported inventories rose 2.13 million barrels vs. a consensus of 1.75 million barrel build
Although inventories have increased, prices did not head lower immediately following the news. Prices have been getting smashed for two week and are hovering between $93 and $94 per barrel.
In addition to crude inventories, gasoline inventories showed a draw of 2.8 million barrels and Distillate had a draw of 969,000 barrels.
Although inventories have increased, prices did not head lower immediately following the news. Prices have been getting smashed for two week and are hovering between $93 and $94 per barrel.
In addition to crude inventories, gasoline inventories showed a draw of 2.8 million barrels and Distillate had a draw of 969,000 barrels.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Trump: Oil Is Flowing Like Never Before, To Replace 20% Hormuz Cargo Fee With Trade Deals
- Natural Gas Inventory 61 bcf vs 56 bcf Expected
- Oil prices settle 2% lower as economic worries outweigh supply risks
Create E-mail Alert Related Categories
Commodities, ETFsRelated Entities
Crude OilSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
