SEPT 26 FRIDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 365 , S2 RS 361
R1 RS 371 , R2 RS 374
WAIT FOR CONFIRMATION.
Gasoline demand averaged 9 million barrels a day during the
past four weeks, down 3.4 percent from the same period
last year, the Energy Department report showed. Gasoline
inventories dropped 5.9 million barrels to 178.7 million
barrels, the lowest since 1967. Supply levels prior to
1990 were reported on a monthly basis.
OPEC continues to export large volumes of oil as it may take
time for the group to cut back output to its quota.
OPEC's daily shipments of oil will increase 2.2 percent in
the four weeks to Oct. 11, according to data from industry
consultant Oil Movements released yesterday.
The Organization of Petroleum Exporting Countries will load
24.75 million barrels a day in the period, compared with
24.21 million barrels a day shipped in the four weeks
ended Sept. 13, the Halifax, England-based consultant said.
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