Yesterday’s Crude Oil Inventory report compiled by the International Energy Agency a body of the US government, reported that inventories increased by nearly 5 million barrels over the week than experts were expecting. This had the effect of continuing the price depression of Texas Tea to under $52/bbl. Curiously the two carrier assault groups and the strategic bombing task force in Qatar have dissuaded OPEC from any supply curtailments that will likely raise prices in the near future.
Faangs looking long in the tooth
Daily Analysis - 06/06/2019