Gold Silver Reports (GSR) – The Energy Information Administration said domestic oil inventories rose by 7,000 barrels last week, defying analyst projections for the decline that usually accompanies growing winter fuel demand. Gasoline supplies surged by 6.9 million barrels and stockpiles at a key storage hub in Oklahoma also grew.
Nymex Crude Oil Prices Forecast Above $45 Level, Target $49 — $52 – Any Panic Buy – Neal Bhai Reports
Crude Oil prices gave back gains as the U.S. government said domestic crude stockpiles unexpectedly climbed, clouding the outlook on a day that otherwise brought encouraging signals on the economy.
Read More : Spot Gold Above $1285 Ultimate Target 1303—1318 Report By Neal Bhai
West Texas Intermediate for February delivery was still up 1.7 percent to $47.87 a barrel on the New York Mercantile Exchange.
The U.S. benchmark price after a strong U.S. jobs report and signs that Saudi Arabia is cutting production. Futures earlier rose as much as 4.5 percent.
