11.10.2013 - Oil ETFs slump on bearish EIA petroleum report
After a strong summer, oil prices have been under a lot more pressure lately. Prices for the important commodity have retreated in weeks past, and now WTI crude is barely hanging on to the $101/bbl. mark, after hitting as high as $111 in August. The reasons for this slide come down to the sluggish trading in oil following the declining worries over a Syrian conflict, and a huge supply of the commodity in the U.S. In fact, over the past few weeks, crude oil inventories have been on the upswing, putting extra pressure on prices for oil..............................................Full Article: Source
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