Crude oil inventories on record high. Price rallys up. Why?
The last time we had numbers like that was shortly after the lockdown, beginning to mid from April 2020.
Do we have this high inventory numbers of 19m against expected -2m and an initiative upmove in oil because everybody is expecting China to open the doors again?
Or what is happening here...?
Often the day after the inventories is the day where the market reacts in the expected direction. In my opinion a short!
Do we have this high inventory numbers of 19m against expected -2m and an initiative upmove in oil because everybody is expecting China to open the doors again?
Or what is happening here...?
Often the day after the inventories is the day where the market reacts in the expected direction. In my opinion a short!
Murat Oers (CFTe)