US Fuel Comsuption Down 4.7% YoY

Saturday, October 10, 2009

U.S. fuel consumption during the four weeks ended Jan. 16 averaged 19.4 million barrels a day, down 4.7 percent from a year earlier, the Energy Department report showed.

Actually this is not a huge drop. As I said in the last few days I think a new uptrend in oil is in place and Russian stocks which are down sharply in the last few months will greatly benefit if oil keeps rising. Might be a very good way to play the rise in oil, besides being LONG OIL, off course.

When trading oil futures or ETF`s like USO look for the lowest comissions. Low round trip comissions are key to profitable trading.

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