18 března 2009

18/3 Oil Inventories out 14:30GMT today

Survey shows 1500K ag 749K last week. Inventories clearly shows that supply is a major problem/factor considering that the demand is not likely to be boosted in the nearest time and most acteers remain bearish on that behalf…

Remember: WTI Crude oil contracts expire on Friday 20th and contracts must be closed or rolled to the May contract (CLK9) before 16:00GMT on Friday.

Support is seen around $46.25 and $45.50
Resistance $50

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