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Huge Build in Crude Oil Stocks Sinks Energy Trade

After failing to break through the $70 barrier this week, crude oil prices are headed lower, with a bearish supply report adding fuel to the fire.

The government's Petroleum Inventory showed a huge 5.1 million barrel increase in stocks in the latest week, much bigger than showed up in the separate survey by the American Petroleum Institute. Analysts, meanwhile, had expected a drop in supplies, so the new report sent crude prices tumbling towards $65 a barrel.

Farmers waiting to buy fall diesel could see an opportunity soon. Unless crude recovers its bullish footing quickly, a test of $60 is likely.

To read Bryce Knorr's complete weekly energy review, click HERE.