Oil News

Crude Oil gains as equity markets rise and investor confidence returns

Crude Oil gains as equity markets rise and investor confidence returns

Oil also got a boost on speculation inventories fell last week

Crude oil rose in New York as gains in the stock market increased optimism that the global economy is recovering. Oil also got a boost on speculation inventories fell last week, while Sunoco Inc. said a refinery fire forced the shutdown of the plant’s main gasoline unit. The rally in oil followed gains in stocks. Gasoline stockpiles fell 1.5 million barrels from 208.3 million the prior week, according to a survey. Supplies of distillate fuel, a category that includes heating oil and diesel, increased 950,000 barrels from 147.5 million. Crude Oil’s Pool-Position is 82% Long, meaning that most Finotec clients are buying the commodity.

Derivative and forex trading broker Finotec is a division of leading real-time Internet trading company Finotec Trading Inc, which pioneered the world of online forex trading in 1998. After launching our revolutionary forex online trading platform in 2001, we continued to improve our services and now serve clients of all sizes in many locations worldwide, offering them real-time Internet trading not only in currencies, but also in options, commodities,... More