RE:RE:RE:EIA Crude draw -12.5m, Gasoline -2.1m Dist -0.6mthank Migraine..... Cdn imports were actually up from last week.
It was the OPEC nations that all cut imports into the U.S.
Nigeria especially had a very large cut (perhaps other problems going on there).
If these cuts/draws persist, I can see the administration raising the issue of banning Exports again like they did last year when Oil price shot up (even though they were advised it would make matters worse globally).
Regardless, as talked about everywhere, markets will remain under pressure till these clowns in Wash. get their act together but the fundamentals of demand/supply eventually have to give way.
Someone needs to remind Joe, he lost the House in the midterms.
American people want him to compromise with the Repubs.
His handlers also need to explain his approval numbers to him as well.
Hello???