Seeking Alpha
Long/short equity, tech, ETF investing
Profile| Send Message|
( followers)  
Excerpt from our One Page Annotated Wall Street Journal Summary:

COMMODITIES: Oil Falls Below $60 a Barrel As Supply Concerns Ease

Summary: Oil for November delivery briefly fell below $60 a barrel in Asian electronic trading on the New York Mercantile exchange and in trading on London's ICE Futures exchange Monday. The oil price is now down 23% from its high of $78.40 in mid-July, due to (1) easing concerns about Iran, Middle-East conflict and hurricane risk to Gulf Coast refineries, (2) signs of economic weakness in the US, and (3) ample global inventories -- the U.S. Energy Department says that crude oil inventories are 5% higher than a year ago and diesel and heating oil inventories are 11% higher. Full WSJ article >
Related links: OPEC's Dilemma: When and How to Cut ProductionOil Hits 6-Month Low; Oil Services ETF A Profitable ShortCrude Contrarian To the Extreme: Philip Verleger's At It AgainEthanol and Oil Sands Stocks at Risk? • Also: Chart and commentary on the U.S Oil Fund ETF (NYSEARCA:USO).

Seeking Alpha is not affiliated with The Wall St. Journal. You can receive Seeking Alpha's full Wall Street Journal Summary by email every morning by signing up here (free, no spam).

Source: Oil Price Falls Below $60