Crude Oil Inventory Increased Around +3.24%

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 15.2 million barrels from the previous week. At 484.4 million barrels, U.S. crude oil inventories are about 2% above the five year average for this time of year. Source: EIA

Looking at the current chart of the Crude Oil Inventory we can see a “trend” higher since some weeks; forming a “double top”.

Repostes from Blog

2 Comments

    1. The Private Banker The Private Banker

      More likely to monitor the rig count and the production chart. It went bearish since we saw the surge in US Field Production (long-term). Short-term more technical oriented.

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