Cannon Trading / E-Futures.com
Overnight news sent crude oil tumbling….I thought it would be interesting to share a weekly chart of Crude Oil futures for your review.
The International Energy Agency will release 60 million barrels of oil from strategic government stockpiles held by industrialized consumer nations in a bid to push down oil prices, the 28-member group announced on Thursday.
The announcement comes after OPEC failed to raise production at a meeting on June 8 and despite assurances from OPEC’s biggest producer Saudi Arabia that it would lift supplies unilaterally.
Weekly Crude Oil Futures Chart: June 23rd 2011
