Crude oil falls after U.S inventories come out higher than expected

Crude oil fell after an Energy Department report showed a bigger-than-forecast increase in stockpiles. Supplies rose 2.32 million barrels to 329 million last week

Crude’s Pool-Position is 37% Long, meaning that most Finotec clients are selling the commodity

Crude oil fell after an Energy Department report showed a bigger-than-forecast increase in stockpiles. Supplies rose 2.32 million barrels to 329 million last week, the report showed. A 400,000 barrel gain was forecast, according to the median of 16 analyst responses in a Bloomberg news survey. Gasoline demand over the past four weeks dropped 0.5 percent to 8.64 million barrels a day, the lowest level since 2004. Total fuel demand over the period averaged 18.8 million barrels a day, down 2 percent from a year earlier. Crude oil is trading at $77.00 as of 21:35pm, GMT, with a bearish trend. Crude’s Pool-Position is 37% Long, meaning that most Finotec clients are selling 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