First Capital Provides Color on Oil Sector

First Capital provided color on the oil sector. In a research report published today, First Capital stressed the oil stock and the price of oil decreased last week.

In the report, First Capital states, “For the week ending June 17, 2011, crude oil stocks declined 1.8 million barrels (MB) sequentially (week on week) to 363.80 MB, as against 365.10 MB for the week ending June 18, 2010… West Texas Intermediate (WTI) spot prices for the week declined 4.2% sequentially to USD 95.87 per barrel.“