Home » Trading Oil » Oil Trading Weekly DOE Stats 26 August 2009

Oil Trading Weekly DOE Stats 26 August 2009

One of the fascinating aspects of oil trading is the oil market ability to focus only on those items of fundamental news which suits the current mood which is the only explanation for oil prices remaining relatively buoyant in the face of an unexpected build in crude oil stocks when most analysts had forecast a further fall.  Instead it was the larger than expected fall in gasoline stocks which probably prevented the oil price from falling further!

The weekly DOE stats are as follows:

US Crude Oil Stocks +0.128M Bbl In Wk vs forecast of  -0.6M Bbl

US Gasoline Stocks -1.7M Bbl vs forecast of  -1.1M Bbl

DOE: US Distillate Stocks +0.767M Bbl In Wk vs forecast of  +0.3M Bbl

DOE: US Refinery Runs At 84.1% Vs 84.0% Week Ago

Trading oil futures is difficult at the best of times which is why it is so important to use an oil broker 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.