US Crude oil inventories reported by EIA decrease by 1 million barrels in weekend Oct2 while analyst expected stock would increase by 1.9 million barrel. The EIA also reported gasoline stock raise by 2.9 million barrels, more than trade estimated increase by 1.3 million barrel. The distillates went up by 700,000 barrel , above expectation by 400,000 barrel increase.
Comment: Crude oil stock decease is support price but the distillate and gasoline stock are still high that could limited upside. Speculated trading in short term is good strategy.
No comments:
Post a Comment