David Messler, OilPrice.com: Is The Oil Collapse Over Already?
It has just been an amazing week for crude oil! We haven’t seen upward movement in WTI like we’ve seen this week in…forever, on a percentage basis. Buoyed by a dramatic shift in sentiment following an avalanche of good news generally, over a very short time span oil has rocketed higher.
Key among this data was a crude storage report turning out to not be as bad as originally feared and on the decline. In the most recent weeks’ edition of the EIA-WPSR, a slight build was forecast, that turned into an actual decline of 0.7 mm bbls. The market loves data like this, particularly in the face of several months of increasing bearish data up to this point.
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WNU Editor: It's over. Expectations are that everything will return to stable in the coming months. Of course that is dependent on how the pandemic plays out, and if the OPEC+ deal on production cuts holds.
3 comments:
Washington State Counting Gunshot Victims Among Its Coronavirus Deaths
It all depends on liberal will to power.
Will people push back against the liberal power grab and their incessant lies?
Figures lie and liars figure. Liberals are the best liars of all
Does this kick off the start of high inflation in the US as the increase in oil price coincides with the effects of the $2T stimulus and the desire of reopening business to make up for list earnings
5:57 Check Marginal Revolution
marginalrevolution.com
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