Oil fell towards $62 on Wednesday, on course for its sixth consecutive fall and longest losing
streak since mid-December, after data showed larger-than-expected builds in U.S. products
stocks, reflecting little sign of a recovery in oil demand.
Figures from the American Petroleum Institute (API) showed distillate stocks jumping by a much
higher-than-expected 3.4 million barrels, while gasoline inventories rose 767,000 barrels against a
forecast 600,000-barrel build.
source :
http://in.news.yahoo.com/137/20090708/748/tbs-oil-falls-for-sixth-day-towards-62-o.html
streak since mid-December, after data showed larger-than-expected builds in U.S. products
stocks, reflecting little sign of a recovery in oil demand.
Figures from the American Petroleum Institute (API) showed distillate stocks jumping by a much
higher-than-expected 3.4 million barrels, while gasoline inventories rose 767,000 barrels against a
forecast 600,000-barrel build.
source :
http://in.news.yahoo.com/137/20090708/748/tbs-oil-falls-for-sixth-day-towards-62-o.html
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