API and EIA are 1 day late this weekI wonder if we will get any good news from these 2 reports?
I would guess that there should be a good size draw in inventories but not huge, maybe 2-3 million barrels and smaller draws in gasoline and distillates, if not increase in gasoline inventories.
oil prices should stabalize around mid 40's and maybe make a small recovery to 46-47 range.
all depends on the supply data, demand appears to to slwoing down again with brexit and eruo issues once again while USA is still recovering nicely, albeit slowly.
I was hoping to buy more meg at 6.13 and 6.03 today and the orders are in place but may not get there today but if we get bad supply data it will certainly move lower tomorrow.
it's all in the numbers.
GLTA