Keeping it real!
With Crude Oil and Gold being in the spotlight this week, especially against purchasing news out of china, we still need to keep our feet firmly planted on the ground as we take a look at the facts.
Looking at the raw data on Crude Oil provided by the EIA, it is very hard to be supportive of a bullish price action for the near term. Crude Oil, Distillate’s, Gasoline and Propane stocks all reflect a much higher cyclical average than previously seen for this time of the year. This is underpinned by above average production level and Crude Oil days of supply.
With Crude Oil and Gold being in the spotlight this week, especially against purchasing news out of china, we still need to keep our feet firmly planted on the ground as we take a look at the facts.
Looking at the raw data on Crude Oil provided by the EIA, it is very hard to be supportive of a bullish price action for the near term. Crude Oil, Distillate’s, Gasoline and Propane stocks all reflect a much higher cyclical average than previously seen for this time of the year. This is underpinned by above average production level and Crude Oil days of supply.
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