crude oilThe saudies already said that they will not change course in june. Already baked in imo. What made the price climb back up is the weekly US inventories that started to decrease. Just the beginning I think. Some are realising that rig counts does count after all...
So,
- rig counts still dropping
- oil and gasoline inventories starting to fall
- no oil storage problems
- refineries maintenance season over
- summer driving season starting
- International demand slowly increasing
One way to go, imo...