Oil Fluctuates Before European Crisis Meetings, Stockpile Report

Oil traded near the highest close in three months in New York before European leaders meet to tackle the region’s debt crisis and a report that’s forecast to show stockpiles rose in the U.S., the world’s biggest crude consumer.   money-250x180_thumb Oil Fluctuates Before European Crisis Meetings, Stockpile Report

Futures were little changed after sliding 4 cents yesterday, the first drop in five days. European leaders will hold meetings in Greece and Germany this week. U.S. oil supplies probably rose for the first time in about a month as imports climbed and demand fell from a nine-month high, a Bloomberg survey showed before an Energy Department report tomorrow. Prices are trading below their 200-day moving average, a technical resistance level.

“Technically, we feel that crude is trading at resistance,