Am I missing something here or is Oil Price being perversely bearish? Have the refiners gone into maintenance and wouldn't their unused gas stocks be counted in inventory antway? Like clockwork Oil Price has a bearish angle everttime the POO rises?
QUOTE: Yesterday, for example, after the API reported a draw of 5.75 million barrels in gasoline stockpiles, versus analyst expectations of a 2.3-million-barrel decline. This decline, again, is more likely a result of lower refinery activity than an increase in production but traders are apparently oblivious to the causes behind inventory movements as long as these movements are in the right direction.
Am I missing something here or is Oil Price being perversely...
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| Last trade - 09.39am 01/10/2024 (20 minute delay) ? |
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