Crude Oil Falls As Inventories Rise
In today’s economic news,
Factory Orders rose more than expected in March
(report).
The ISM Non-Manufacturing Index showed service sector growth accelerated
unexpectedly in April (report).
The reports sent Treasuries lower, pushing the 10yr yield to its highest level
in four years.
The US Dollar Index rose for the first time in nine days. The Dollar recorded
small gains versus the Euro and Yen.
Gold closed fractionally higher, after giving back more than $10 from its
session high.
Crude Oil futures fall as
inventories rise
The EIA reported Crude Oil inventories rose 1.7 Mln
barrels and Gasoline inventories rose 2.1 Mln barrels in the most recent week
(report).
Crude Oil futures fell heavily after the release of
today’s data, with the June Crude Oil contract closing at $72.28.
All the softs closed lower, except for Cotton +0.41%.
Economic News
March Factory Orders Rise 4.2%; April Non-Factory Index Rises To 63.0 (report)
ISM Non-Manufacturing Index At 63 For April (report)
EIA: Crude Oil Inventories Up 1.7 Mln. Barrels; Gasoline Inventories Up 2.1 Mln.
Barrels (report)
For more reports and analysis go to our
Economic
News section.
Ashton Dorkins
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