Decreasing inventories for crude in the United States are a good sign, according to the main man for Landesbank Baden-Wuerttemberg’s commodities research. This indicates that it is highly likely that demand for oil will increase in the most apparent future. It also helps that there is a rising in the equity markets.

The delivery of oil for July actually gained 1.2 percent, which translates to 72.82 dollars per barrel. This is according to the New York Mercantile Exchange electronic trading. Brent crude also gained 55 cents which is 0.8 percent according to the ICE Futures Europe exchange based in London.

They are now waiting for the DOE or Department of Energy figures as a confirmation that indeed there is a trend which goes downward for the falling of crude stockpiles. This data will be released today from Washington. The probabilities are that oil fell 900,000 barrels after a week, and gasoline fell 500,000 barrels for the same period.

OPEC, or the Organization of Petroleum Exporting Countries will also be releasing a report today, and tomorrow, another agency will follow suit, and that is the International Energy Agency located in Paris. There is in fact a great boost for the driving season, despite initial fears that poor economy and high prices may depress effects on driving during the summer.