Unless otherwise indicated, the material below has not been prepared by Van Eck Associates Corporation or HardAssetsInvestor.com.
Neither assumes any liability for any content on a third-party website or material prepared by a third party.
HardAssetsInvestor
- ENERGY
- PRECIOUS METALS
- BASE METALS
- AGRICULTURAL
- SOFTS
- Alternative Energy
- STRATEGIC/RARE EARTH METALS
MOST POPULAR ARTICLES
-
D’Agostino: Gold Physical Sales Still Up 50%; Gold ETFs Shake Out Leveraged Speculators
-
Peter Schiff: Gold Fools Shouldn’t Be Selling
-
Gold’s Large Market Size & Liquidity Keep It Less Volatile Than Silver, But Maybe Not For Long
-
Chart Of The Week: Silver Mine Production Surges, Boosted By 17% Increase In US Output
-
Adrian Ash: Real Interest Rate Movement Turns Against Gold In Favor Of Fixed Income
***Top stories from the last 15 days
Crude Oil Report Crude Oil Report: Brent Hovers Below Key Resistance As Surging Midwest Inventories Depress WTI- Written by Sumit Roy |
- March 07, 2012
Crude Oil Report: Brent Hovers Below Key Resistance As Surging Midwest Inventories Depress WTI
- Details
We examine the latest developments in crude oil, including the stabilization of prices after inventories drop.
The Department of Energy reported this morning that in the week ending March 2, U.S. crude oil inventories increased by 0.8 million barrels, gasoline inventories decreased by 0.4 million barrels, distillate inventories decreased by 1.9 million barrels and total petroleum inventories decreased by 1.4 million barrels.
Crude oil prices recovered from two-week lows after the latest inventory figures. Price action has stabilized in recent sessions after the relentless rally of February that briefly sent Brent to the highest level since 2008 intraday.
BRENT CRUDE OIL
Last year’s high of $127 is still the key resistance level to watch, while $120 may act as support on the downside.
WTI CRUDE OIL
Meanwhile, WTI was a laggard over the past week, as the WTI-Brent spread widened. Surging inventories at Cushing, Okla., are keeping the benchmark depressed.
-
Last Update: 05/24/2013
Commodity ETF Flows -
Last Update: 05/20/2013
Contango Report -
Last Update: 05/22/2013
Crude Oil Report -
Last Update: 05/21/2013
Precious Metals Monitor
