RE:oil down 0.2% and the Oil companies tumble by a factor of 10Bank traders using the J Powel news conference as an excuse to drive prices down but it won't last . Look at today's storage injection , it was ONLY 16 bcf when estimates expected a 79 bcf injection . Inventory is almost 500bcf lower than last year at this time .
This move isn't supported by fundimentals and won't last .