Crude Oil's Reaction To EIA Report And Intraday Chart Signal Price Stability

EIA Petroleum Status Update report for the week of Feb/27/2015 revealed a steep rise in inventories @ 10.3m barrels vs. 8.4m the previous week and forecasted level @ 4.16m . The net result is 8 consecutive large increases and elevates commercial inventories to an 80-year high with 444.4m barrels.