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 ETF ‘GLD’ Sees Its Biggest & First Inflow In 2 Months
-
Week In Review: Gold Pullback Toward $1,322 Begins, NatGas Tests First Layer Of Support, Oil Falls, Copper Rises
-
Gold’s Large Market Size & Liquidity Keep It Less Volatile Than Silver, But Maybe Not For Long
***Top stories from the last 15 days
Crude Oil Report Crude Oil Report: Brent Plunges To Lowest Level Of 2012, Could Fall To $100 As US Weighs Reserve Release- Written by Sumit Roy |
- May 17, 2012
Crude Oil Report: Brent Plunges To Lowest Level Of 2012, Could Fall To $100 As US Weighs Reserve Release
- Details
The multimonth correction in crude oil continues.
The Department of Energy reported Wednesday that in the week ending May 11, U.S. crude oil inventories increased by 2.1 million barrels, gasoline inventories decreased by 2.8 million barrels, distillate inventories decreased by 1 million barrels and total petroleum inventories increased by 2.9 million barrels.
Brent crude oil prices sagged to the lowest levels of the year today, as the $110 support level finally gave way amid mounting economic concerns. The benchmark is now poised to test the key support area between $98 and $102.
Aside from the economy factor, speculation is mounting that governments led by the U.S. will release strategic petroleum reserves onto the market to offset the loss of Iranian supply when the European Union's embargo goes into full effect in July.
Such a move could be a significant downside catalyst for oil prices in the coming months.
BRENT
WTI
-
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
