Draw on Oil Stock could be the catalyst for higher OilTomorrow 8:30am is Housing Starts and Building Permits and if they come in with no huge decline or even if the data stay flat Oil could combine a recovering Oil price with lower crude inventory might be the drivers but Biden releasing SPR Oil didn't help today and its news articles like this that higher Oil will have to be bullish against because it will be targeted in lowering Oil price every day from data of the economy, Things could change fast if there's ever an unscheduled production loss because with OPEC cuts tightness is on the edge of a razor blade and Biden knows this, Oil could start a trend reversal because $81 Oil was low and could be the pivot point like I posted, you can get Oil to rally higher but its the traders that have to be on board with keeping Oil high and since OPEC's run up to $93 we haven't seen the commitment from the traders in keeping Oil high. If Housing Starts and Building Permits come in solid then tomorrow could be bullish. Overseas might once again drive Oil higher being bullish and if they do the US this time might add to the gains made after hitting today's low of $81
US API Crude Oil Stock 