Wednesday, February 8, 2017

Oil Is Going Bankrupt

The biggest news of the day was all but ignored by the lamestream media. The U.S. Energy Information Administration confirmed the massive crude build reported by the industry report yesterday...

Here are U.S. crude inventories as of today's figures:
Inventories peak at the end of April/early May EVERY year...



Crude futures net speculative long positions (As of Jan. 31):




How Skynet kept the oil market bid today is not for me to say, after all, selling at 2am between markets is always preferable to the machines. 

In the meantime, Energy stocks, not impressed...