Crude Oil Fluctuates Along With Equities, Supply May Decline

Crude oil futures fluctuated along with the stock market and on speculation that a government report tomorrow will show U.S. stockpiles and demand dropped. Oil and U.S. equities swung between gains and losses as housing starts unexpectedly dropped to an all time low. Crude oil stockpiles probably dropped 1.5 million barrels last week, according to a Bloomberg News survey conducted before an Energy Department report tomorrow. “A lot of oil traders are looking at equity markets for a signal of what the economy and demand picture will look like in the months ahead,” said Tim Evans, an energy analyst with.....Complete Story