Why is oil price up this morning?

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dan_s
Posts: 34962
Joined: Fri Apr 23, 2010 8:22 am

Why is oil price up this morning?

Post by dan_s »

After the markets closed yesterday, API reported the following weekly moves in U.S. petroleum inventories.

Crude inventories declined by 6,800,000 barrels
Gasoline inventories declined by 6,400,000 barrels
Distillates inventories declined by 1,770.000 barrels

If confirmed by EIA at 10:30 ET this should be a good day for our stocks.

NEXT WEEK is when the summer driving season kicks into high gear.
Dan Steffens
Energy Prospectus Group
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