Energy Prices Fall As Inventories Rise
Energy prices closed lower
after the EIA report that Crude Oil Inventories were up 2.7 Mln
barrels and that Gasoline Inventories were also up 2.7 Mln barrels last week (report).
The news sent Crude Oil back below $60.
The metals continued to shine with both Gold and Copper moving
to new contract/multi-year highs. This year’s perfoprmance has been even more
impressive due to the strength of the US Dollar.
The Mortgage Bankers Association reported that
mortgage loan applications rose last week (report).
Go to our
Economic
News section for reports and analysis.
Treasuries closed slightly lower, the US Dollar
Index rose.
Ashton Dorkins
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