This weekly focus on oil inventories is dumb. Except in unusual market conditions, the oil companies can make those inventories anything they want by importing crude, gasoline and / or distillates. The demand numbers are what's important. Watch the weekly demand numbers by product & the comparison of them to last year.
DOE gives a four week average demand comparison to last year. You'll see steady increases. Over time, that's bullish for oil & oil stocks as long as it continues.
seems like u can always fade the initial USO move for a quickie at, 1030.
ReplyDeleteya i think a certain ex beefer, who been saying we see a rate cut in may, is gonna be wrong.
You mean the bald, mad one? He doesn't know anything about economic trajectories or reading the Fed. He's just a big mouth.
ReplyDeleteI don't see any rate cut until year-over-year core inflation goes under 2%; maybe not until 1.75% even. They aren't gonna cut rates unless a real slowdown hits, and even then might not unless the inflation numbers are OK.