Oil Prices Pare Gains as Cushing Stock Rose to Record High

Risk appetite damped in the US. Lead by financials and energies, Wall Street retreated after a 3-day rally with DJIA and S&P 500 indices losing -0.475 and -1.13% respectively. Crude oil, initially extending gains to 2-week highs, pared gains as US oil inventory increased further. The front-month WTI contract climbed to as high as 31.09 earlier in the day before settling at 30.77, up +0.36%.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/insights/oil-prices-pare-gains-as-cushing-stock-rose-to-record-high-2016021932364/