Crude inventories just came out and showed a build of 6.6 mill barrels, up from the estimate of only 1.4 mill.
On this news, crude is slightly lower, just a smidge.
No worries, however, since our pals in the House of Saud, in conjunction with the Russians, are going to freeze production at record, all time high, jaw leveling levels.
As you were.
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Costanza logic.
Oil will plummet when Tesla announces its new line of coal-fired automobiles.
I’m having some trouble storing it. I might have to clear some space in the attic.
Can almost see the clenched jaw behind this blog post…the contempt for the market.
Wow, who could have predicted that? Oh, right, anybody paying attention.
Maybe China should use their huge steel/cement/everthing surplus capacity to build some ginast tanks since they have very little natural oil reserves of their own. Or maybe even use a giant cave (SPR) like we do.