December 30, 2015

NO ONE EVER WON BY BETTING AGAINST JULIAN SIMON:

Oil slides on surprise rise in U.S. stockpiles (Ivana Kottasova, December 30, 2015, CNN Money)

Oil prices dropped another 3% on Wednesday after data showed surprising rise in U.S. crude stockpiles.

Oil futures slid to just under $36.50 per barrel after the U.S. Energy Information Administration said U.S. crude inventories rose by 2.6 million barrels last week.

That was a lot worse reading than expected. Analysts had predicted crude stockpiles would decline.

"At 487.4 million barrels, U.S. crude oil inventories remain near levels not seen for this time of year in at least the last 80 years," the agency said in a statement.

Posted by at December 30, 2015 4:51 PM

  

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