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All Posts Term: EIA
1 post(s) found

Cushing US Report Pushes Oil Lower

Dec 31 2014
3
0

CushingCrudeOil

A report from Cushing Oklahoma showed slow growth in oil demand while the glut of oil supply remained high. The EIA (Energy Information Assoc.) reported that crude supply decreased but that Cushing showed a large build up at the same time. This created a bearish tone in trading and oil stocks declined along with the price of oil in open trading. Also noted was a small increase in the demand for gasoline which spooked traders.

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