Another week of a "normal" storage report. Maybe a touch bullish for products.
Still looking for that sign of backing up oil supplies and not seeing it.
I think we might see some serious recovery here soon.
Thanks Jim!
I don't know what to think.
I read earlier today that because of the situation in Libya that OPEC output is at levels not seen since 2009.
Still no sign of any backup of oil or products in the API or EIA. Both reports were about identical this week.
thanks Jim
metmike: Prices are LOWER here, shortly after the report, not higher.
https://www.cnn.com/2020/03/05/investing/opec-oil-prices-coronavirus/index.html
metmike: The previous lows for crude, earlier this week were 43.32.
We are down almost to $42 right now and on the lows.