Crude oil back above $100/bblPublished on Wed, Oct 01, 2008 at 08:39 | Source : CNBC-TV18 Updated at Wed, Oct 01, 2008 at 10:35
Oil prices have been following the equities market over the last couple of days of course after that dramatic sell off yesterday; we are seeing a big recovery and rebound today in oil prices. But will that hold tomorrow when we get the inventory report from the Department of Energy? There are expectations out there that we could see either a one and half million barrel draw or build in crude supplies. The build, of course, is coming from the fact that we could see crude production and imports climbing. But then will refinery operations have recovered enough to take those supplies? We are looking as well at what has happened to the refiners. Refiners continue not to make very much money of course on gasoline or hitting oil even though some of the major energy stocks were up today refiners still taking a hit. CRUDE RISES Oil mkt following equities Oil over $100/bbl Inventory report out tomorrow Crude down 30% from July highs
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