Oil Fades From OPEC Exuberance On Fund Flows, Storage, & Contango Concerns
The overnight exuberance in crude oil futures markets has faded notably as the day has worn on. While news of supply cuts are unquestionably bullish (should one choose to believe it or not, remember the Saudis admission "we tend to cheat"), but the last few days have also seen a plethora of bearish-biased news that for now is being ignored.
The excitement is fading...