Crude Oil Falls After Supplies Climb at Oklahoma Delivery Hub
By Mark Shenk
Nov. 21 (Bloomberg) -- Crude oil fell after an Energy Department report showed that inventories at the delivery point for the U.S. benchmark grade increased.
Inventories at Cushing, Oklahoma, where New York-traded West Texas Intermediate oil is stored, rose 1.14 million barrels to 14.6 million last week. Nationwide, inventories of crude oil fell 1.07 million barrels to 313.6 million, the report showed.
``I thought we would be higher because this was not a bearish report,'' said Kyle Cooper, director of research at IAF Advisors in Houston. ``This is sometimes a sign that the market is tired and a rally has run its course. The only bearish data was the 1 million-barrel build in Cushing.''
Crude oil for January delivery fell $1.27, or 1.3 percent, to $96.76 a barrel at 11:26 a.m. on the New York Mercantile Exchange. Futures climbed to $99.29 today, the highest intraday price since trading began in 1983. Prices are up 61 percent from a year ago.
Brent crude oil for January settlement fell 22 cents to $95.27 a barrel on the London-based ICE Futures Europe exchange. Brent reached $96.53 a barrel today, the highest since trading began in 1988.
Crude-oil inventories were expected to rise 750,000 barrels, according to the median of responses by 16 analysts surveyed by Bloomberg News before the report's release. The Energy Department released the report on U.S. supplies at 10:30 a.m. in Washington.
``I hope we can cross $100 and end this fixation,'' said Chip Hodge, a managing director at MFC Global Investment Management in Boston, who oversees a $4.5 billion energy company bond portfolio. ``I still feel that demand will take a hit, it will just take time.''
Inventories of distillate fuel, a category that includes heating oil and diesel, fell 2.41 million barrels to 131 million barrels. A drop of 450,000 barrels was expected.
`A Shock'
``I just had a shock, I just filled my tank with $3.15 a gallon heating oil,'' Hodge said. ``If it's cold this winter things are going to be ugly. There will be a ripple effect in the economy, at least here in the Northeast.''
Heating oil for December delivery rose 0.42 cent to $2.6943 a gallon in New York. Futures touched a record intraday price of $2.7154 a gallon today.
To contact the reporter on this story: Mark Shenk in New York at mshenk1@bloomberg.net .


![[نمودار هر اونس طلا برحسب دلار آمریکا]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[نمودار هر اونس پالادیوم برحسب دلار آمریکا]](http://www.kitconet.com/charts/metals/palladium/t24_pd_en_usoz_2.gif)

دنیا به دلار ضعیف عادت کرده است! اکنون مدت ها است که حرکت نزولی دلار آمریکا دیگر جای تعجبی برای بازار ندارد. رکود بخش مسکن، ضربه بزرگ بحران وام های مسکن درجه دو (

