Oil Falls On Bearish Inventory Report and Bernanke Testimony

Filed under: Major Movement, International Markets, Market Matters, Commodities, Oil, Recession

Oil prices headed lower on Wednesday after the Department of Energy announced a surprise increase in inventories last week.



Analysts had been expecting to see oil reserves decline last week by 1.4 million barrels, but the weekly inventory report showed that inventories actually increased during the week by 400,00 barrels.

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Oil Falls On Bearish Inventory Report and Bernanke Testimony originally appeared on BloggingStocks on Wed, 21 Jul 2010 17:30:00 EST. Please see our terms for use of feeds.

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United States Department of Energy - BloggingStocks - Oil reserves - Business - North Sea

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