By EconMatters
A positive week for risk assets, we consolidated recent gains and even finished the week higher in most risk assets. Gasoline had a stellar week, and points to a bottom in the Oil Market.
https://www.youtube.com/watch?v=WglBGQk1qGg
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By EconMatters
A nice $2 bullish move into the close surprised a lot of shorts who focused on the Cushing inventory builds, but missed that gasoline demand is moving oil higher as we move into the summer driving season ramp up.
By EconMatters
Some mixed components in this week`s EIA Inventory report. Oil builds are bearish due to storage concerns, but the gasoline demand numbers are robust, and U.S. Oil production is starting to roll over which is bullish.
https://www.youtube.com/watch?v=kbAN-Or68Ic
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After sung vespers, and just before going in to dinner last night at the Benedictine monastery in Norcia, a young man stopped me in the space outside the refectory, extended his hand, and said, “Rod, it’s Justin.”
I didn’t remember him from last time.
By EconMatters
After short covering Monday, Tuesday pushed the oil market down with no help from OPEC and a Risk Off mode in financial markets. With a bad API report after hours look for weakness ahead of the Department of Energy Report on Wednesday morning.