Nice draw and it confirms the API data.
This should keep a decent floor under WTI pricing.
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Backtracking as usual, or how about your prediction that a 1/2 point cut to interest rates would propel oil higher. That was a good one... LOL Has it? - WTI oil's at $69 and perhaps could go lower?
EN pointed out how Biden foreign policy while keeping helping to keep oil prices lower they allow Iranian oil back onto the market. I've said that in past, in addition that the US returned the Iranians $100 million of their sanctioned money. Is that wise given that the middle east unstability, or quite supid. Everyone knows China/India has been buying Russian oil that's common knowledge...EN also said the markets are underpriced due to little to no geo-risk........ and that the price is not reflecting inventories (you kind of referred to that too when you went out on a limb this past week- remember..lol). He mentioned we are in an election year....
You are clueless, your predictions are wrong because you have little understanding of markets.