Crude Oil Rises above $100 Despite Gas In Storage Increase

Crude Oil is trading above $100 once again, in spite of an increase in the U.S. gas in storage. According to

, the U.S. natural gas in storage rose by 105.00 billion cubic feet in the week ending May 20, compared to a week earlier. Analysts were expecting a more modest rise of 93.00 billion cubic feet. Some analysts might conclude a higher than expected increase in fossil fuel supplies is a sign of demand destruction or that the prices of fossil fuels have gone so high they are eating into the demand. This does not seem to be the case, however, as the price of crude oil rose by 0.58% to $100.88. The price of natural gas was roughly the same, however. At the moment, the price of natural gas stands at $4.374, or 0.09% above yesterday's close. Traders who believe the price of oil will continue to rise will be interested in the United States Oil Fund (NYSE:

) and the Goldman Sachs Crude Oil Total Return ETN (NYSE:

). Those traders who believe the prices of fossil fuels have risen too high and are eating into the demand will be interested in the ProShares UltraShort DJ-AIG Crude Oil ETF (NYSE:

) and the PowerShares DB Crude Oil Short ETN (NYSE:

).