Crude Oil Update

Crude oil is lower in the wake of the DoE supply data, which showed crude oil supplies rising 5.1mln barrels for the week ended Nov 17, i.e almost 7 times more than expected.

Gasoline supplies rose more than expected at 1.4mln barrels vs expectations of 750k fall, whilst distillate supplies was more or less as expected at 1.2mln barrel draw.

WTI Nymex crude oil is currently at $59.39.

This is effecting Precious Metals as well, though with Weak Dollar we are seeing little balanced out with Gold trying to stay above 630/631.