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Message: Oil's off

Oil's off

posted on Sep 23, 2009 06:42AM

http://www.marketwatch.com/

Oil's off

... 

'' Data from the U.S. Department of Energy "is more reliable judging from the past few weeks of big discrepancies (between the two sources)," said Yu Yingxi, an analyst at Barclays Capital.

Analysts expect Wednesday's data to show a 1.5 million-barrel drop in oil inventories, a 400,000-barrel increase in gasoline stocks and a 1.6 million-barrel rise in distillates, including heating oil and diesel.

If crude stocks drop significantly, November Nymex crude may test last week's high of $73.58 a barrel during the next couple of sessions, Jim Ritterbusch, president of the trading advisory firm Ritterbusch & Associates, said in a note to clients. '' ...

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