Oil bullish drivers keep coming..Monday was the turning point for Oil as Banking fears fade but are far from gone with the FED raising warnings today that the Banking crisis could stick around a little longer in other words the risk of further instability remains but look at the run of luck Oil has had, Kurdistan big contributor but 400,000 bpd shortage isn't as much. Russia's 500,000 bpd cut is only seen being down 300,000 bpd so simple math puts Kurdistan's real loss at 200,000 bpd or instead of 900,000 bpd it's only 700,000 bpd how I see it but let them think 900,000 then US had a draw of -7Mil barrels another bullish reason for Oil and tonight China Manufacturing Readings were solid showing that ontop of Refineries bottomless pit is now a healthy growing Manufacturing sector so as far as this moment goes things are about as good as we could hope for with the recent turm-Oil. The one real problem that is in everyone's face every day is looking at the Oil Chart littered with failed peaks this is holding Investors back after the recent rally from $64. I was surprised to see the DOW rally in the last 1/2 hr from double digits closing up 140 which was a bullish move. All we can hope for is a bullish Friday with Oil punching through the phycological $75 mark carried through the start of April.
Fed's Kashkari: Banking stress could last longer than many expect | Reuters China NBS Manufacturing PMI 