Wednesday, March 30, 2011

Oil keeps Piling up‏

http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=201103301059dowjonesdjonline000242&title=us-oil-inventoriescrude-stocks-rise-by-29-million-barrels At $3.71 a gallon people are saying no thank you. You keep it. Lots of supply. Weak demand. Yet prices are still through the roof. Is anyone investigating this manipulated market? Nope! Crude oil stockpiles rose 2.9 million barrels to 355.7 million barrels The American Petroleum Institute, an industry group, reported a 5.7-million-barrel build in its weekly report released late Tuesday. Oil stockpiles have risen by nearly 21 million barrels since the beginning of the year, and have posted gains for four straight weeks. Distillate stocks, which include heating oil and diesel fuel, rose by 700,000 barrels to 107.9 million barrels, compared with analysts' forecast of a 400,000- barrel drop. Ridiculous!

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