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    oil and gas investing

    Crude Prices Sag

    Investing News Network
    Oct. 27, 2010 01:31PM PST
    Energy Investing

    Seekingalpha.com reports that oil fell below $82 a barrel owing the reports suggesting bigger-than-expected gain in US crude inventories.

    Seekingalpha.com reports that oil fell below $82 a barrel owing the reports suggesting bigger-than-expected gain in US crude inventories.

    The editorial is quoted as saying:

    By the time the US Energy Department released its definitive supply report, however, prices had plummeted below $81, before finding firmer footing. Crude oil stocks piled up by 6.4 million barrels, according to an American Petroleum Institute report released late Tuesday. Analysts had forecast a gain between 600,000 and 1.5 million barrels. The actual tally, according to government figures, was a 5.0-million-barrel build.

    Click here to access the entire Editorial

    oil and gas investing
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