Oil prices remain bullish amid US rising EIA oil stocks data

Oil prices are holding out and remaining bullish after the latest data from the US EIA showed that crude oil and energy stocks in the US remain high. Light crude oil futures for June delivery traded at $83.17 a barrel at 0603 GMT on the NYMEX, while in London, June 2010 Brent crude oil futures on London’s ICE Futures Exchange fell 9 cents to $86.07 a barrel. US EIA crude oil stocks increased by 1.9 million barrels in the week ending on April 23rd 2010, which matches the previous week’s rise. EIA Crude Oil Stock is a measure of change in crude oil storage and it’s released by the Energy Information Administration. The report indicates the oil demand and the price volatility. Even with the weekly decline, however, US gasoline in storage remained 11.1 million barrels above last year’s level, and while gasoline inventories are 16.9 million barrels lower than last year they remain at above average levels. The EIA reported that refineries were running at 89 percent of capacity last week, higher than had been anticipated. Oil prices expected to hit $100 in 2010 say Dubai traders Oil companies in Russia and the foreign investment climate Brent oil prices trading at $86 in early week market surge Oil prices trading firm on US data, homing in on $90 barrel Arab states launch secret moves to stop using US currency for oil trading $70 WTI light crude oil price this winter says EIA Some facts about the peak oil theory Indian oil companies hike jet fuel prices as crude oil rises Oil prices trading up on hurricane Ida concerns, weaker US dollar Oil prices trading lower on stronger US dollar, demand OPEC member Iraq oil output may affect future oil prices Goldman Sachs predicts summer oil price at $92 – $97 range Weekly petroleum recap, crude oil inventories up The IEA and peak oil How to trade crude oil futures online Crude oil prices trading up on weak US dollar Peter Schiff – Oil Prices Are Going Up Greenhouse gas emissions may fall 3% due to recession, say IEA Oil price steady as US dollar dips, crude oil supplies lower Era of cheap, easy oil is over, warns study

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Oil prices remain bullish amid US rising EIA oil stocks data