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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Mar 17, 2006
Page
5
Inflation slowed sharply in February as energy prices fell, offsetting steady clothing costs. The CPI rose 0.1 percent, with energy down 12 percent led by pump price declines, heating oil, and natural gas. Core inflation rose 0.1 percent, up 2.1 percent year over year, boosting market optimism.
Analysts call a technical rally after early selling as light sweet crude for April rises to 63.58 a barrel on the Nymex. Tim Evans notes support levels and a supply‑heavy U.S. market with 340 million barrels in inventories. Futures await later dates while ED reported crude stocks up 4.8 million to 339.9 million barrels.
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