Crude Oil Falls After U.S. Inventories Climb to a 15-Year High

Monday, October 12, 2009

Crude Oil Falls After U.S. Inventories Climb to a 15-Year High .

Crude-oil inventories climbed 2.84 million barrels to 359.4 million in the week ended March 27, the highest since July 1993, the Energy Department said today. A 3-million-barrel increase was forecast, according to a Bloomberg News survey. Gasoline supplies rose by 2.23 million barrels to 216.8 million.

Word on The Trading Desks

“There are ample supplies of crude” said Mike Zarembski, senior commodity analyst at OptionsXpress Holdings Inc. in Chicago.

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