Oil, Gas Inventories Plummet: More Fuel For Soaring Prices

More bad news for petroleum prices:

  • Crude inventories fell 5,320,000 vs. consensus of a 300,000 gain.
  • Gasoline inventories fell 755,000, vs. consensus of a 250,000 gain.
  • Distillates increased 728,000 vs. consensus of a 1,425,000 gain.

Update: Oil hit another trading record today at over $134. Fantastic…

See Also: Peak Oil Man Scares Bejesus Out of CNBC Viewers With Tales of $15 Gas

 

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