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
h/t @JavierBlas
We are sure “it’s probably nothing”
via http://ift.tt/2bC2gMX Tyler Durden