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Commodities Briefing - Categorized | Market Pulse, Oil, Price Watch more

Crude oil rises, despite inventory build

Posted on 26 May 2011

The U.S. Department of Energy reported this morning that in the week ending May 20, 2011, U.S. crude oil inventories increased by 0.6 million barrels, while gasoline inventories increased by 3.8 million barrels, distillate inventories decreased by 2 million barrels and total petroleum inventories increased by 6.8 million barrels.
Crude oil prices rallied after the report, with Brent nearing $115/barrel, while WTI briefly surpassed $101/barrel. But recent price action does not seem related to these inventory movements……………………………………….Full Article: Source


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