MarketWatch: Oil ends below $110 on rise in inventories

SAN FRANCISCO (MarketWatch) — Crude-oil futures finished below $110 a barrel Wednesday after a government report revealed a bigger-than-expected rise in weekly inventories and as data showed the U.S. economy still struggling to add jobs.

Light, sweet crude for June delivery /quotes/comstock/21n!f:cl\m11 CLM11 -0.40% lost $1.81, or 1.6%, to settle at $109.24 a barrel on the New York Mercantile Exchange.

Crude added to losses after the Energy Information Administration reported that crude-oil inventories rose 3.4 million barrels for the week ended April 29. Analysts polled by Platts had expected crude supplies to rise 1.7 million barrels.

More: http://www.marketwatch.com/story/oil-futures-ease-in-asian-trading-2011-05-04?dist=afterbell

Just checked today, pump prices are up about 5 cents in my neighborhood. Of course.

None of the normal econ 101 indicators, or historical data have anything to do with the price we pay on any given day. It's all greed at every step in the process.

Today there is a surplus.

What a pile o'sh*t! :grr:

:kick: