Crude Oil falls slightly as equities decline and U.S inventories climb

Oil’s two-day climb stalled after U.S. banks said credit markets haven’t recovered yet

Oil’s two-day climb stalled after U.S. banks said credit markets haven’t recovered yet

Crude oil fell in New York after a decline in the stock market and a gain in U.S. inventories renewed concern the global recession will sap demand for fuels. Oil’s two-day climb stalled after U.S. banks said credit markets haven’t recovered yet, pulling shares lower in late trading yesterday, while Japanese equities dropped today. U.S. oil stockpiles rose for a seventh week to the highest since September 1990, the Energy Department said yesterday. Crude Oil is trading at $48.90 as of 9:25am, London Time. Crude’s Pool-Position is 78% Long, meaning that most Finotec traders are buying the commodity.