What's Moving the Oil Market

•Global crude futures softened in early European trading Wednesday, tracking a pullback in stock markets, on concerns that efforts to bolster global economies and inject liquidity into the financial system would not prevent a slowdown in demand for oil, sources said.

•"There is still a lot of bearish sentiment out here. [Oil] demand is still falling and the expectation of [US] stocks builds is bearish," another broker added.

•Analysts polled by Platts expect a 3.1 million barrel build in crude stocks when the Energy Information Agency releases its weekly US inventories data Thursday--a day later than usual because of the Columbus Day holiday in the US. Gasoline stocks are also expected to increase by 3.1 million barrels and distillates to fall by 850,000 barrels.

Updated: October 15, 2008

This content first appears in Platts Oilgram Price Report. Platts Oilgram Price Report is a daily report that covers market changes, market fundamentals and factors driving prices. Platts Oilgram Price Report also brings a vast array of Platts international prices for crude and products, netback tables, and market critical data. Subscribe now to Oilgram Price Report, or click here to request a trial.

Platts What's Moving the Oil Market What's Moving the Oil Market 10/15/2008

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