Thursday, January 22, 2009

Oil Prices Fall 6% after Release of Inventory Report

Oil prices fell today after it was announced that the nation’s supplies of crude and gasoline expanded much more than expected last week. In its weekly inventory report, the Energy Information Administration said the nation’s supplies of crude oil rose 6.1 million barrels. According to a survey by energy research firm Platts Analysts, crude stocks were expected to have grown 1.9 million barrels.

Gasoline supplies rose 6.5 million barrels, and supplies of distillates - used to make heating oil and jet fuel - rose 800,000 barrels last week, according to the EIA report. Gasoline stocks were predicted to rise 1.9 million barrels and distillates supplies were expected to be down 2.25 million barrels.

About QualityStocks:

QualityStocks’ Small Cap Stock Newsletter is a free service that collects data from hundreds of Small-Cap online Investment Newsletters into one free Daily Newsletter Report.

Sign up for “The QualityStocks Daily Newsletter” please visit www.QualityStocks.net

The Quality Stocks Daily Stock Report http://video.qualitystocks.net

The Quality Stocks Daily Blog http://blog.qualitystocks.net

The Quality Stocks “Ones to Watch” http://Gotstocks.QualityStocks.net

Please see disclaimer on QualityStocks website: http://disclaimer.qualitystocks.net

No comments: