Oil prices were little changed on Wednesday afternoon despite a massive inventory build reported earlier in the day by the Energy Information Administration. The EIA had reported a crude oil build of 15.189 million barrels for the week, sending U.S. oil inventories to 503.2 million barrels, or 11% above the five-week average for this time […]
The oil markets have staged a dramatic rally since early November, with WTI breaking out of a range between the high $30’s and low $40’s for the first time since early this year. In this article, we will take a look at a couple of key drivers for this breakout, and see if it will […]
Crude oil prices hesitated today after the Energy Information Administration reported an oil inventory draw of 700,000 barrels for the week to November 27 but a sizeable build in gasoline inventories. At 488 million barrels, crude oil inventories are still above the five-year average for the season, by about 7 percent. A day before the […]
