Oil continues steep decline


Mildly supportive EIA inventory numbers aren't enough to pull oil out of a big slide begun just before the new year. Off 1% today to $94.50 per barrel, February WTI crude was over $100 on December 27. USO -1.3%.

Natural gas is steady as the EIA reports a 97 bcf draw on inventories. Total stocks of 2.974 tcf are off 562 bcp from a year ago, and 289 bcf below the 5-year average. UNG +0.3%.

Crude ETFs: USO, OIL, UCO, SCO, DBO, DTO, BNO, CRUD, USL, DNO, SZO, UWTI, OILZ, DWTI, OLO, OLEM, TWTI

Nat gas ETFs: UNG, UGAZ, GAZ, BOIL, DGAZ, UNL, KOLD, NAGS, GASZ, DCNG

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