US crude inventories rise by 9.6M barrels to record highs.
Brent for May delivery was down 22 cents at $53.29 per barrel by 10:40 a.m. EDT (1440 GMT) after ending the previous session up 7 cents.
U.S. crude for April delivery stood at $42.48 per barrel, down 98 cents, after hitting a six-year low of $42.05 earlier in the session.
I'm looking forward to cheaper gas prices. Looking forward. Forward.....
Supply exceeds demand by about 2 million gal/day at present. If a nuclear deal is struck with Iran it could add 1 million gal/day to that. I just may be able to open the secondaries on that big 4 barrel on my Chevelle!!
ReplyDeleteYes, open the secondaries!
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