Excerpt from: Financial Spread Betting Strategies
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| March 08, 2007 | | Oil prices are often affected by U.S. supply | A drop in U.S. oil supply is spurring oil prices upward, and they are likely to remain somewhat stable, gaining as more information about the U.S. oil supply is received. Financial spread betting strategy should consider that the declining U.S. oil supply will have an effect on oil prices. MarketWatch reports on the U.S. oil supply:
The gains came as the Energy Department said the nation's crude
supplies dropped 4.8 million barrels to a level of 324.2 million
barrels for the week ended March 2, confounding most analysts who had
expected the data to show a third straight weekly increase. Crude
inventories are now down 5.1% from a year ago, according to the data.
At the same time, motor gasoline supplies fell 3.8 million barrels to
stand at 216.4 million barrels -- down 3.9% from a year, according to
the Energy Department. They've now fallen a total of 10.8 million
barrels over the course of four weeks and are 3.9% below year-ago
levels, the data showed. | | |
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