RE:RE:Oil going up. Agree...demand volitile but slowly recovering...air travel recovering, driving season coming, exploration/capex down, flakey rig counts. It all amounts to more demand, less supply. If China and India are the drivers of the oil market now, it gets worse/better depending how you look at it.
There has been a glut of oil the past fee weeks, Europe shutting down again is one thing, perhaps more related to the weather in Texas. Refineries shut down, no need for crude oil. So the good news for oil prices, refined product inventory declined in absence of refining, they will need to process more oil to replace refined inventory once they are able. My theory anyways...refering to a close hockey game...may take some grit and sandpaper to ride this out,