Oil Prices Head Higher Despite Bearish Inventory Report

Filed under: Major Movement, Forecasts, Market Matters, Economic Data, Oil, Currency

Oil prices have been steadily falling over the past week, but reversed course today and managed to gain $0.89 a barrel to close the day at $72.52.



Today's rise came despite a bearish inventory report that showed oil inventories rose by 4.11 million barrels last week, well above the 300.000 barrels that analysts had been expecting to see.

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Oil Prices Head Higher Despite Bearish Inventory Report originally appeared on BloggingStocks on Wed, 25 Aug 2010 17:30:00 EST. Please see our terms for use of feeds.

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