The weekly crude oil inventory from the EIA shows:
- Crude Oil -1.692 million vs -2.594M estimate
- Gasoline -1.533 million vs. -0.760 M estimate
- Distillates +4.556 million vs. 0.084M estimate
- Cushing 0.430 million vs -0.0052M estimate.
The private data released late yesterday showed:
The price of crude oil was trading near $79.40 just ahead of the data. The low prices today reached $79.30 while the high price was at $80.93.
The price of crude oil is trading marginally lower at $79.29.
This article was written by Greg Michalowski at investinglive.com.
