Oil Prices Rebound Despite Bearish Inventory Report

Filed under: International Markets, Good news, Russia, Middle East, Economic Data, Oil, Housing, Recession, Financial Crisis

Oil prices have rebounded from yesterday's sell off, despite a larger than expected increase in oil inventories last week.



As we noted yesterday, analysts were expecting to see a 250,000 barrel increase in reserves last week, but the Department of Energy reported today that inventories actually rose by a much greater 2.4 million barrels.

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Oil Prices Rebound Despite Bearish Inventory Report originally appeared on BloggingStocks on Wed, 26 May 2010 18:00:00 EST. Please see our terms for use of feeds.

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Middle East - BloggingStocks - Oil Prices - Business - United States Department of Energy

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