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Drill, baby....wait, what?
Brent hits 17-mth low on ample supplies; awaits Fed<>
there is a fundamental oversupply of light/sweet crude oil in the Atlantic Basin that neither OPEC nor the Fed can resolve," said Olivier Jakob, at Petromatrix in Zug Switzerland.
U.S. crude oil stockpiles rose last week by 2.86 million barrels, defying forecasts for a stock drawdown. A Reuters poll had forecast a 1.1 million barrel decline. <EIA/S>
U.S. crude oil stockpiles rose last week by 2.86 million barrels, defying forecasts for a stock drawdown. A Reuters poll had forecast a 1.1 million barrel decline. <EIA/S>
http://www.reuters.com/article/2012/06/20/us-markets-oil-idUSBRE83H17O20120620
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