US crude prices were down by an unexpected rise in US crude stockpiles
US crude prices were down by an unexpected rise in US crude stockpiles and worries that China might tighten monetary policy to fight inflation. Crude oil fell along with a sell-off in a broad array of commodities and equities. Crude oil and other commodities also came under pressure from a rising dollar after US economic data fueled hope that the country's economic recovery was on track.
Bill O'Grady, chief investment strategist at Confluence Investment Management in St. Louis, Missouri said: "The Alaska pipeline was not down long enough to have a drastic impact on the crude supplies."
|
Linear Mode
