From Ticker Sense
Yesterday after the close, we posted that crude oil may be due for a bounce off of the bottom of its trendline:
Coincidentally, word crossed the wires today that President Bush plans to announce a doubling of the capacity of the strategic petroleum reserve to 1.5 billion barrels by 2027. Although the Department of Energy said the plan will not adversely impact the market or raise gasoline prices, the price of oil rose sharply to $54.84 on the day.
http://tickersense.typepad.com/
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.