1 yr of dropping stockpile. With 1 year of a flat price. More oil is being produced than ever before in the period. That kept prices stable as storage dropped. Now the price is on the lower end. Despite a reduction in storage. A drop in demand usually causes a drop in price. The price has been dropping despite record cold. That can be the canary in the coal mine. If inventories do start rising. That's 2 canaries. You can't say price dropped due to a oversupply. It has to be something else. It's not a good sign for price to rise. It's just hard to gamble against dropping storage. There is probably a recession coming.
those who can, do. those who cant, talk about those who can
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