Dino's Bar & Grill Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Dino's Bar & Grill

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Goose94 who wrote (28899)	4/19/2017 4:02:06 PM
From: Goose94	Read Replies (1) of 203478

Crude Oil Takes A Hit With Geopolitical tensions waning, crude oil is taking it on the chin like a boxer today, with June futures down $2.00 a barrel to $50.85 as I write. It was reported yesterday that a US naval armada was not steaming towards the Korean peninsula to confront any further North Korean missile tests. There had been rumors that the US was contemplating shooting any further North Korean missiles out of the sky if the PRK persisted with their threat of weekly tests. EIA inventory reports showed crude oil inventories falling 1.03 million barrels. Expectations were for a fall of 1.3 to 1.7 million. The market had a decidedly bearish reaction to the lower 1.03 million draw. Furthermore, distillates fell 1.96 million barrels, and gasoline rose 1.54 million barrels. Gasoline inventories were expected to fall 1.7 to 2.1 million barrels. With gasoline registering a rise, the floodgates were open to sell across the board. Technically, June crude broke definitively below the 50 day moving average at $52.19. The $50 mark will probably be psychological support, however strong technical support on the daily chart over the last year is $45 to $48 a barrel. Tarik Husseini

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next