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Crude oil prices set for rebound on inventories report

Posted June 10, 2008

Baltimore — (TFN): Oh, the fun of it. Crude-oil futures closed down more than 2% Tuesday, retreating from a high above $137 a barrel after reports implied that record prices may be causing declines in global and domestic demand growth.

That was Tuesday, of course. Wednesday will provide reason enough for the plodding herd to change direction yet again: At 10:30 AM, Crude Inventories for June 7 will come in lower than expected, triggering another stampede into oil. Lower demand notwithstanding.

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Posted by J. Christoph Amberger · Filed Under Oil and Energy 

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