Seeking Alpha

Oil stays on the rise after inventory gain

  • A larger-than-expected boost in crude oil supplies - up 1.7M barrels last week vs. expectations of just 480K - isn't putting a dent in prices which march a bit higher, the July WTI contract now up 0.7% at $103.40 per barrel.
  • Gasoline (UGA +0.4%) stockpiles, however, showed a sizable drop of 1.8M barrels vs. expectations for a gain of 280K. Distillates (UHN) fell 200K barrels vs. expectations for a 750K gain.
  • Previously: EIA Petroleum Inventories
  • Crude oil ETFs: USO, OIL, UCO, SCO, DTO, BNO, DBO, CRUD, USL, UWTI, DNO, DWTI, SZO, OLO, OLEM
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