Crude Falls As Inventories Surge
The Federal Reserve’s Beige Book
stole the show today, giving stocks a boost and helping send treasuries lower.
Highlights of the report can be found in our
The US Dollar Index lost ground for the second consecutive day. The Dollar’s
biggest declines came against the Yen, Euro and Swiss Franc.
The Energy Department’s EIA reported crude oil inventories rose 4.8 Mln barrels
and gasoline inventories fell 900,000 barrels. Crude Oil, Unleaded Gas, Heating
Oil and Natural Gas closed lower.
In the softs, Cocoa, Coffee and Sugar were the strongest performers. Lumber was
the only market to close lower today.
All the grains declined, with Corn leading the slide among the major contracts.
EIA: Crude Oil
Inventories Up 4.8 Mln. Barrels; Gasoline Inventories Down 900,000 Barrels
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