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Commentary Topic from greenfaucet

Oil Technicals Turn Bearish

Real-time Monetary Inflation (per annum): 8.3% By the way traders took crude oil down $1.23 a barrel, or 1.8%, this week, you'd think there was too much oil sloshing about. Analysts, though, were looking for commercial inventories to decline by 1.3 million barrels. U.S. Energy Department data showed the week's actual drawdown - 3.8 million barrels - matched the previous week's off-take. At 353.9 million barrels, supplies are still above the average range for this time of year.