Commodity Blog

Commodity news, technical and fundamental analysis, market data on precious metals, energies, industrial metals, and soft commodities


Crude Falls as US Gasoline Inventories Grow

December 8, 2010 at 6:37 by Vladimir Vyun

Crude oil declined for a second day on concerns about European sovereign-debt and on speculation that US gasoline inventories would surge. European officials decided that there is no immediate necessity to provided aid for Spain and Portugal. Nevertheless, concerns about these countries remain.

US gasoline stockpiles advanced 4.8 million barrels last week. Supplies of distillates, including heating oil and diesel, rose 1.7 million barrels to 159.3 million. Today’s reports expected to show that US crude oil inventories declined.

January delivery for crude oil fell $0.81 (0.9 percent) to $87.88 per barrel on NYMEX. January settlement for Brent crude dropped $0.83 (0.9 percent) to $90.56 per barrel on ICE.

If you have any questions and comments on the commodities today, use the form below to reply.

Leave a Reply