Oil Gives Back Some Gains

Filed under: Exxon Mobil (XOM), Chevron Corp (CVX), ConocoPhillips (COP), Oil

Oil is trading higher on the day, but prices have fallen a good bit from the high they hit immediately following this week's inventory report.



Prices rose as high as $83.03 a barrel, and are currently trading at $81.97, up $0.48.



The reason why prices spiked so much following the report was the initial reaction to the smaller than expected rise in crude reserves. Analysts had been looking to see a jump of 2.1 million barrels last week, but the report indicated that inventories rose by a much smaller 1.4 million barrels.

Continue reading Oil Gives Back Some Gains

Oil Gives Back Some Gains originally appeared on BloggingStocks on Wed, 10 Mar 2010 17:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Full story at http://www.pheedcontent.com/click.phdo?i=d771a6d0de6488e1e65d5dc12aa56578