The Oil went below 61 USD per barrel
Wednesday, July 8th, 2009
Oil stocks in U.S. companies has fallen more than market expectations last week, but while stocks of gasoline have increased over the estimated, showing that there is some oversupply. U.S. Department of Energy today reported a reduction in U.S. oil stocks for the week to July 3 with 2.0 million barrels, to 347.3 million barrels, which is 17.8 percent above the levels of the same period last year. Consensus expectations were for the market decline in oil stocks of U.S. companies with 2.0 million barrels per. But the reserves of the companies in the U.S. gasoline rose by 1.9 million barrels, to 213.1 million barrels, as were 1.7 percent above levels from the same period last year.
(more…)