e-magazine
The Hot Zone
China's newly announced air defense identification zone over the East China Sea aims to shore up national security
Current Issue
· Table of Contents
· Editor's Desk
· Previous Issues
· Subscribe to Mag
Subscribe Now >>
Expert's View
World
Nation
Business
Finance
Market Watch
Legal-Ease
North American Report
Forum
Government Documents
Expat's Eye
Health
Science/Technology
Lifestyle
Books
Movies
Backgrounders
Special
Photo Gallery
Blogs
Reader's Service
Learning with
'Beijing Review'
E-mail us
RSS Feeds
PDF Edition
Web-magazine
Reader's Letters
Make Beijing Review your homepage
Hot Links

cheap eyeglasses
Market Avenue
eBeijing

The Latest Headlines
The Latest Headlines
UPDATED: March 19, 2009
Oil Tumbles on Bigger-than-expected Inventory Build
Crude oil retreated on Wednesday after a U.S. government report showed energy inventory increased more than market had expected
Share

Crude oil retreated on Wednesday after a U.S. government report showed energy inventory increased more than market had expected.

Light, sweet crude for April delivery fell 1.02 U.S. dollars to settle at 48.14 dollars a barrel on the New York Mercantile Exchange.

The U.S. Energy Department Energy Information Agency reported on Wednesday that crude stockpiles rose 1.94 million barrels for the week ended March 13, which has sent U.S. crude inventory to the highest level since June 29, 2007.

Meanwhile, gasoline stocks surged by 3.2 million barrels, against analysts' expectation of a 2.1-million-barrel drop.

Oil prices have gained support from the rally in the stock market recently, but many analysts do not think the price will go beyond the 50-dollar resistance level. Energy demand would remain weak with economic conditions still deteriorating and jobless rate rising.

In London, Brent crude for May delivery fell 49 cents to 47.75 dollars a barrel on the ICE Futures Exchange.

(Xinhua News Agency March 19, 2009)



 
Top Story
-Protecting Ocean Rights
-Partners in Defense
-Fighting HIV+'s Stigma
-HIV: Privacy VS. Protection
-Setting the Tone
Most Popular
 
About BEIJINGREVIEW | About beijingreview.com | Rss Feeds | Contact us | Advertising | Subscribe & Service | Make Beijing Review your homepage
Copyright Beijing Review All right reserved