Crude Oil Market Analysis For The Week Of March 12, 2012

May Crude Oil futures posted a modest gain last week with better-than-expected U.S. economic news the catalyst behind the move. The market started out weak as follow-through selling fueled by the previous week’s technical closing price reversal top attracted some mild selling pressure. By Wednesday the market had reached its low for the week after a weekly inventories report showed a smaller-than-expected increase. The Energy Information Administration said oil supplies increased by 800,000 barrels in the week ended March 2. This was below…

Read more...