EIA's oil storage report today was bullish, but the market continues to find a million reasons to be skeptical about oil. Debt ceiling this, China demand that, Russian export this, and so on and so forth, but the reality is that the oil market data continues to trend favorably for the bulls. Most importantly, the demand weakness we saw in the US that started in April last year has turned into a strengthening trend.
Oil Data Continues To Fly In The Face Of Skeptics
Oil Data Continues To Fly In The Face Of…
Oil Data Continues To Fly In The Face Of Skeptics
EIA's oil storage report today was bullish, but the market continues to find a million reasons to be skeptical about oil. Debt ceiling this, China demand that, Russian export this, and so on and so forth, but the reality is that the oil market data continues to trend favorably for the bulls. Most importantly, the demand weakness we saw in the US that started in April last year has turned into a strengthening trend.