VelocityShares Credit Suisse 3X Long Crude ETN (UWTIF)

[sludgehound]

Econoday comments on EIA report

Oil stocks keep rising, up 3.4 million barrels in the October 23 week to 480.0 million. Refinery demand for oil is moderate with refineries operating at 87.6 percent of capacity in the week, well down from 90 percent plus readings when output is active. Gasoline inventories fell 1.1 million barrels in the week with distillates down 3.0 million. But refineries may very well pick up output based on demand indications which are strong, up a year-on-year 3.4 percent for gasoline and up 10.0 for distillates. WTI, near $45.50, is up about 50 cents in early reaction to today's results.