The 'death cross' of these two energy market indicators is all one needs to know about the oil market...
As Bloomberg notes, total industry oil stocks reported by the International Energy Agency rose for a third month, increasing by 0.5 percent to the highest on record at 2.99 billion barrels.
China’s Beige Book, released last week, showed further economic deterioration in one of the world’s largest commodity-consuming nations in the fourth quarter.
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Until these two indicators change direction, lower-er for longer-er will remain.