SAN FRANCISCO (MarketWatch) -- The American Petroleum Institute on Tuesday showed a higher-than-anticipated increase in crude-oil supplies for the week ended Oct. 22. The trade group said the nation's stockpiles of oil rose 6.4 million barrels, against expectations of an increase of 1.5 million barrels, according to analysts surveyed by Platts. Gasoline stocks declined 1.8 million barrels, whereas the analysts had expected an increase of 900,000 barrels. Supplies of distillates, which include heating oil and diesel, rose 818,000 barrels; they were forecast to decline 1.5 million barrels. The API report comes a day before the more closely watched data from the Department of Energy.
I would like oil to touch 79 before i go long but if i miss the boat ill be buying some SCO sub 12. Im still on the side lines.
Kev, I feel your pain just be patient You"ll get it back!