Saudi Arabia and Nigeria to pull back on exports and output raise hopes that market rebalancing is on the way.
Market fundamentals should dominate. But automated systems doing the trading, based on trends, have become more influential. It's why this year’s negative momentum has been hard to break.
Total crude imports to the United States have fallen in recent weeks. Has helped cut domestic crude stocks faster than normal for the time of year.
Over the past 15 weeks, U.S. oil inventories have fallen 13 times, and in most cases, the declines were more than expected.
Fundamentals are pushing oil markets higher, investor sentiments are improving... finally.
Click here to view our Offerings.