Wealth Creation Through Natural Resources
I have not kept it a secret that I have been looking for a marginal new low in WTI crude to wash out weak handed bulls followed by a violent upside reversal. Today this scenario happened in a most unexpected … Continued
US crude inventories are at record highs and production is at the highest levels in several decades. Meanwhile, refinery outages (both planned and unplanned) are helping to put a crimp in near term demand – from Bloomberg Briefs: This market … Continued
Front month crude futures briefly touched $44.52/barrel following the weekly oil inventories report from the EIA which contained the following sentence: “At 406.7 million barrels, U.S. crude oil inventories are at the highest level for this time of year in at … Continued