US crude oil inventory 0.224M vs -0.770M est ...Middle East

Crude oil inventories +0.244M vs -0.770M estimategasoline inventories -4.476M vs -1.375M estimateDistillates -2.353M vs -0.028M estimateCushing -0.086M vs a drawdown of -0.654M last week.

The price of crude oil is currently down around one dollar at $62.42. The low price reached $61.55 after headlines that some OPEC members wanted to increase production even more at there May meeting (four June).

This article was written by Greg Michalowski at www.forexlive.com.

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