Sunday, March 10, 2013

Oil Inventory Data Ahead Of US Are Depressed

Minyak Tertekan Jelang Data Persediaan AS

Monexnews-crude oil futures Prices slipped on Wednesday after durable goods data AS worse than expectations. Oil investors have also seen take days before the release of u.s. oil inventory data from the Energy Information Administration (EIA) at 22.30 BST later that night.

Currently crude oil contract for delivery in April offered in the range of $ 92.30 per barrel or about 0.25% below yesterday's closing price. Throughout this month, oil has lost about 5% due to concerns over the political situation in Italy, berlebihnya in oil supply market and the strengthening of the u.s. Dollar.

While oil supply data version of the American Petroleum Institute (API) released Tuesday showed U.S. crude oil inventories increased 904.000 barrel on last week.

"We estimate the u.s. oil stocks are still going to continue the trend of seasonal high leibh until April or may," said Timothy Evans, energy analyst for Citi Futures. (vid)

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Title Post: Oil Inventory Data Ahead Of US Are Depressed
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Author: Mohammad Zulfi Satriawan

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