Fast forward to today:
"The market was geared up for a bid crude-oil draw and got blindsided”
‘A 1.4 million barrel-per-day petroleum-demand drop is the kind of shift one associates with a catastrophic storm or economic plunge.’
Gamblers are still WAY too long this trade...
https://www.investing.com/economic-calendar/cftc-crude-oil-speculative-positions-1653
Fracking stocks:
"Aw fuck, not this again!!!"
Coal stock(s):
"What do you mean there's no such thing as 'clean coal'?"
It's very unusual to get a crude build in June. But don't take my word for it, from the second article above:
the “window for net draws in the U.S. in the 2017 fiscal year is “too narrow for total inventories to normalize.”
At least there's always internet stocks:
