-
Hesitation of oil bears
Market sentiment about oil prices seems to be in limbo, and the commodity’s price seems to be hesitating about the direction of its next leg. In this report, we aim to shed light on the factors driving WTI’s price over the past week, assess its future outlook, and conclude with a technical analysis of WTI. Oil: Overview Report The situation on the ground of the US oil market There was a question set last week with API’s huge increase of US oil inventories which was not verified by EIA, as its report was delayed, as to how wide the slack in the US oil market actually was. Making a start with the Baker Hughes oil ... (full story)