Oil continues to pull back in anticipation of increase in oil inventories in tomorrow’s data
Two down days in a row–a big trend given the volatility in oil price trends recently. As of noon New York time on Tuesday, August 30, October futures for West Texas Intermediate, the U.S. benchmark, were down 1.28% to $46.38 a barrel. The selling comes as a Bloomberg survey showed that traders expect a climb in crude inventories of 1.5 million barrels in the U.S. EIA report due tomorrow.
