Thursday, November 18, 2010
Phil Flynn: Shake It Off!
The EIA reported that U.S. commercial crude oil inventories decreased by a whopping 7.3 million barrels from the previous week. At 357.6 million barrels, U.S. crude oil inventories are above the upper limit of the average range for this time of year. Total motor gasoline inventories decreased by 2.7 million barrels last week and are in the upper half of the average range. Both finished gasoline inventories and blending components inventories decreased last week.
China International, or Unipec, plans to import 120,000 tons for December delivery, compared with......Read the entire article.
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