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WTI crude (USO -1.3%) slips back below $90/barrel following the unexpected surge in inventories....

WTI crude (USO -1.3%) slips back below $90/barrel following the unexpected surge in inventories. Gasoline (UGA -0.9%) stockpiles fell as well, but by less than expectations. Perhaps some relief at the pump is on the way?
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  • june1234
    , contributor
    Comments (3066) | Send Message
     
    That would be nice relief for many. Price of any commodity today has very little to do with traditional supply and demand anymore. I doubt there is 20% oil on the entire planet to cover demand for paper traded energy shares these days. If I buy one oil futures contract I physically reserve in my name 1000 barrels oil I never had any intention of taking delivery of . Imagine the distortion in prices an energy ETF causes each time they make an oil buy.
    6 Mar 2013, 01:56 PM Reply Like
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