Filed under: International markets, Forecasts, Middle East, OilWhen we took a look at the current oil picture this morning, we noted that analysts were expecting to see an 800,000 barrel increase in oil supplies last week. Well, that was not to be, and instead the US Energy Department just announced that inventories actually dropped by 1.1 million barrels.
With prices already trading near to the $100 mark, today's report could be just what the market needed to break through the psychological barrier. Before the report came out, prices had actually moved into the red on the day, but quickly rebounded back into positive territory, currently trading up 0.16% on the day to $98.20.Continue reading Oil inventories show surprising declines last weekPermalink | Email this | Comments
Related Headlines
- Shoe Pavilion (SHOE) balks the earnings callposted 671 weeks ago on The StockMasters - Investing News and Analysis, Hot Stock Tips, Stock Marke
- Earnings highlights: Wal-Mart, Home Depot, Starbucks, and othersposted 670 weeks ago on BloggingStocks
- Sears Holdings Brand and Land Valuesposted 672 weeks ago on The StockMasters - Investing News and Analysis, Hot Stock Tips, Stock Marke
- Remember Advanced Micro Devices?posted 670 weeks ago on The StockMasters - Investing News and Analysis, Hot Stock Tips, Stock Marke
- Thanks to rich people, Sotheby's (BID) will be just fineposted 672 weeks ago on The StockMasters - Investing News and Analysis, Hot Stock Tips, Stock Marke
- Earnings previews: Hewlett-Packard (HPQ) and Whole Foods (WFMI)posted 670 weeks ago on BloggingStocks
- Earnings previews: Abercrombie (ANF), Gap (GPS), Nordstrom (JWN)posted 670 weeks ago on BloggingStocks
- E*TRADE gets spanked again, Subprime styleposted 671 weeks ago on The StockMasters - Investing News and Analysis, Hot Stock Tips, Stock Marke
- Constar International is backposted 671 weeks ago on The StockMasters - Investing News and Analysis, Hot Stock Tips, Stock Marke
- Sirius (SIRI) shareholders dig the XM Satellite mergerposted 671 weeks ago on The StockMasters - Investing News and Analysis, Hot Stock Tips, Stock Marke