Oil Supply Drops in Survey as U.S. Refinery Demand Climbs
Bloomberg reports that U.S. crude-oil supplies probably dropped to their lowest level in three months as refinery demand increased with the end of seasonal maintenance.
Articles Tagged "energy department"
Oil Rebounds From Four-Week Low
Bloomberg reports that Oil rose, rebounding from a four- week low.
Crude Prices Sag
Seekingalpha.com reports that oil fell below $82 a barrel owing the reports suggesting bigger-than-expected gain in US crude inventories.
Buyers To Buy If Prices Weaken
If bearish sentiment continues for a bit, expect to see a potential break below support levels around $67.35. Further declines in shipping rates due to reduced Chinese demand can be expected to continue, highlighted by expectations for a 50 per cent drop in freight rates in the next four months.
