RE:RE:Oil destined for $65-$70.... Reason to be concerned IMO is the shift in inventory dynamics......Distillates increased huge on the back of a weak US consumer......ultimately shifting the inventory from oil to gasoline thus making it appear as though the oil inventories are dropping quicker then anticipated......game on.....
I think in light of the overall inventory numbers the price of oil will be in the red ahead of this weekend.....The support level may ultimately be $60....if $60 doesn't hold then I assume the big money will drive price lower we see $56-$58.......Injections aren't over yet IMHO......