MCX Crude Supplies Down 7.2 Million - API

Crude-oil inventories fell by 7.2 million barrels in the week ended Aug. 31, the American Petroleum Institute said late Wednesday. The trade group also reported that stockpiles of gasoline declined by 2.3 million, while distillates inventories declined by 132,000 barrels. 

The decreases were expected in the wake of Hurricane Isaac, which hit the Gulf Coast, the heart of the U.S. refinery and oil-production area, earlier last week. The API report was a day late due to the Labor Day holiday. 

A report by the Energy Information Administration is due Thursday, also a day later due to the holiday. Analysts polled by Platts expect a decline by 5 million barrels for crude. Gasoline stockpiles are seen down 3.5 million barrels, and distillates are expected to decline 1.5 million barrels.Via

====================================================================================

You can contact us for any help in trading Commodities, stock and futures. We are the leading brand in providing high quality trading tips for commodities, equities and futures. Complete broker franchise available here and our charges are very low. Just give it a try and find the difference.

Call us at 9872444433, 0161-4413274, 0161-4621433 for more details and for free trials and amazing offers for traders. Join us and become a professional trader.  

Official  Website: Dhansukh.Com
Email & Messenger: Investwithme@yahoo.in  

====================================================================================

Posted in: commodity news,market news,trading news