World News
4 Day Crude Run Ends With 8% Drop
Wednesday February 4, 2015
A fifth straight day of gains was not to be had as today's inventory report wiped all of yesterday's increase and then some.
Stockpiles grew twice as much as expected sending crude down 8% today.
After crude ran for four straight trading days the inventory report gave the market a hard dose of reality.
U.S. invenotry levels are at an 80 year record high and most likely growing.
Refineries are getting ready to shut down for maintenance runs ahead of the warmer season.
Don't unbuckle your safety belt just yet.