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DOE Forecast 22 Sep 2009

DOE Forecast for trading oil:

Tomorrow’s crude oil inventory is expected to show crude stocks dropping for a third consecutive week.  Oil inventories are expected to fall by 1.4m, according to the mean of 9 analysts’ forecast with their estimates ranging from a fall of 3.56m to an increase of 2m barrels – a nice wide target!!  Gasoline are expected to rise by 400k and distillates too expected to rise by 1.6m barrels.  Refining capacity is expected to fall by 0.8% to 86.1%.  With the FOMC meeting and expiration due this week we can expect oil trading to be volatile.

Trading oil futures is difficult at the best of times which is why it is so important to use a crude oil brokerage who can offer the widest possible oil market experience, tight spreads and low margins.  In addition the best oil brokers will also offer an outstanding trading platform such as the metatrader4, one of the most respected and trusted retail platforms.  For more information and to download an online oil trading account click any of the highlighted links.   Moreover, if you want a daily technical analysis for the WTI oil contract just visit our sister site daily oil prices –  Good luck and good trading.