- Joined
- Aug 22, 2008
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- 428
-Crude oil fell, poised for its first annual decline in seven years, on speculation that U.S. fuel stockpiles are increasing as the recession reduces demand.-“The predominant feature that’s been guiding the oil market is poor demand,” said Gene McGillian, an analyst at Tradition Energy in Stamford, Connecticut. “Most analysts are expecting tomorrow’s report to show a build in the products and a drop in crude.” -Crude oil for February delivery fell 66 cents, or 1.7 percent, to $39.36 a barrel at 12:24 p.m. on the New York Mercantile Exchange. Prices are down 59 percent this year. Futures have dropped 73 percent from a record $147.27 on July 11.-U.S. gasoline stockpileshttp://http://www.bloomberg.com/apps/quote?ticker=DOESTMGS:IND probably rose 1.6 million barrels in the week ended Dec. 26, from 207.3 million barrels the week before, according to the median of 12 analyst estimateshttp://http://www.bloomberg.com/apps/quote?ticker=DOEASMGS:IND before tomorrow’s report. Supplies of distillate fuel, a category that includes heating oil and diesel, increased 1.5 million barrels from 135.3 million, the survey showed.
-The Conference Board’s index of U.S. consumer confidence fell to 38, the lowest level since records began in 1967, from 44.7 in November. Another report showed declines in U.S. property values accelerated. The S&P/Case-Shiller home-price index of 20 metropolitan areas fell a record 18 percent in October from a year earlier. The U.S. is the world’s biggest oil consumerhttp://http://tonto.eia.doe.gov/country/index.cfmhttp://http://tonto.eia.doe.gov/country/index.cfm.
-“Certainly the poor economic data this morning, with both falling housing prices and consumer confidence, sent prices to the day’s lows,” Kilduff said. “The drop ended and prices have stabilized a bit on optimism that the economy will to better next year.”
http://www.bloomberg.com/apps/news?pid=206...mp;refer=canada
-The Conference Board’s index of U.S. consumer confidence fell to 38, the lowest level since records began in 1967, from 44.7 in November. Another report showed declines in U.S. property values accelerated. The S&P/Case-Shiller home-price index of 20 metropolitan areas fell a record 18 percent in October from a year earlier. The U.S. is the world’s biggest oil consumerhttp://http://tonto.eia.doe.gov/country/index.cfmhttp://http://tonto.eia.doe.gov/country/index.cfm.
-“Certainly the poor economic data this morning, with both falling housing prices and consumer confidence, sent prices to the day’s lows,” Kilduff said. “The drop ended and prices have stabilized a bit on optimism that the economy will to better next year.”
http://www.bloomberg.com/apps/news?pid=206...mp;refer=canada