Oil Inventories Rose Less Than Expected

Tuesday, October 13, 2009

Crude-oil futures rose Wednesday after government data showed U.S. crude inventories rose less than expected last week. Crude inventories increased by 600,000 barrels in the week ended May 1, the Energy Information Administration reported.

Oil Futures are trading up 4% nearing 56 dollars a barrel on Nymex. I think its a good time to short oil. oil has benefited from stronger risk appetite and uptrending equity markets, but the supply and demand situation still points to lower prices ahead. I am adding to shorts here.

Petroleum Oil Gas info Blog is a website for active online oil futures traders. We provide research and relevant oil and energy related news for the oil trader or daytrader.


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