Wednesday, November 6, 2013

Crude Oil, First gain in eight days

Crude Oil gains from five months low scored yesterday in the first rise for eight days, WTI started its gain today waiting for the crude oil inventory report in U.S. so that the forecasts are about low inventory of 1.7 Million barrels which will increase the demand on crude oil to recover the weekly budgeted stock of four to six Million barrels range, sense that the current level of stock in absolutely insufficient level to cover the minimum need of the U.S. economy. 

WTI reached the level of $94.24 per barrel as day’s high and average trading price at the range of $94.11 per barrel $1.08 per barrel higher than yesterday’s price supported at $93.95 per barrel. 

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