Oil declined for the fifth time in six days after U.S. gasoline consumption tumbled to the lowest level in 10 years and inventories rose.
Crude fell after the Energy Department said gasoline use dropped to 8 million barrels a day last week, the lowest level since September 2001. Stockpiles of the motor fuel climbed 3.72 million barrels to 227.5 million, a 10-month high.
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Read more here:
http://www.bloomberg.com/news/2012-01-19/oil-gains-as-u-s-jobless-claims-fall-to-lowest-level-in-almost-four-years.html
Kondratieff Long Wave 