Sure, there’s tanker-carry-trades, positioning extremes, jawboning, marginal supply interruptions (and increases), and slowing (or rising) growth expectations… But taking a step back for a moment, what do you think this means for ‘price’…
US oil inventories (crude plus refined product) soars above 1.4 Billion barrels for the first time ever… 40% above the 25-year ‘norm’ average
We are sure “it’s probably nothing”
This post was published at Zero Hedge on Aug 24, 2016.
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