Oil Demand Expected To Decline –

The energy department cut its forecast for oil demand and price.  The change in the forecast coupled with the inventory report due out on Wednesday may dampen oil prices further.  The Energy Information Administration is expected to indicate that crude inventories rose 2.5 million barrels.  With the warmer weather and decreased refining it seems as though inventories should have grown more than what is expected.

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James Sutliff

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