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Oil Little Changed Before Report Forecast to Show Supply Gai

Bloomberg -- Oil traded little changed before a report forecast to show that crude inventories expanded for a sixth week in the U.S., the world’s largest energy user.

Crude bounced back from earlier losses as the dollar gave up some gains against the euro, reinforcing oil’s appeal for hedging inflation. Crude declined yesterday after the American Petroleum Institute said inventories rose by 6.5 million barrels in the week ended March 5. An Energy Department report today is forecast to show supplies climbed by 2 million barrels.

“Demand in the U.S. has been very depressed,” said Eliane Tanner, an analyst at Credit Suisse Group AG in Zurich. “That’s looking like it’s starting to pick up and get to more average levels, and we expect a gradual improvement in prices. The risk is that the inventory num

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Submitted Mar 10, 2010 By: stpetebp

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dar 1 Champion Author Michigan Posts:1,095 Points:212,825 Joined:Jan 2005	Message Posted: Mar 10, 2010 5:27:58 AM Ignore dar 1 Report Abuse IT WILL GO HIGHER,
Ringmaster2008 Champion Author Ontario Posts:2,952 Points:503,635 Joined:Apr 2008	Message Posted: Mar 10, 2010 5:26:14 AM Ignore Ringmaster2008 Report Abuse More speculation
dave364 Champion Author Lansing Posts:1,328 Points:537,205 Joined:Nov 2007	Message Posted: Mar 10, 2010 5:26:13 AM Ignore dave364 Report Abuse diesel fuel is still way to high as are other fuels
mandoid Champion Author Colorado Springs Posts:2,894 Points:616,730 Joined:May 2008	Message Posted: Mar 10, 2010 5:24:27 AM Ignore mandoid Report Abuse up 21 cents
Ltdc Champion Author Long Island Posts:2,392 Points:725,770 Joined:Jul 2007	Message Posted: Mar 10, 2010 5:18:34 AM Ignore Ltdc Report Abuse The price is little changed because it's already been factored in.
Hunter724 Champion Author New Hampshire Posts:3,220 Points:672,170 Joined:Sep 2008	Message Posted: Mar 10, 2010 5:18:30 AM Ignore Hunter724 Report Abuse Get rid of the speculators ...
lindact Champion Author New Haven Posts:4,024 Points:790,115 Joined:May 2008	Message Posted: Mar 10, 2010 5:13:34 AM Ignore lindact Report Abuse All of these articles are pure speculation & shouldn't be printed.
naw62 Champion Author Maine Posts:4,565 Points:1,249,770 Joined:Sep 2006	Message Posted: Mar 10, 2010 5:12:34 AM Ignore naw62 Report Abuse These reports don't help