One chart doesn't a trend make or, for that matter, a trend reversal.
Here are two charts, however, that make for some interesting reading notwithstanding your bias. And recall everybody has one.
With energy some say the price of crude has further to fall while others argue an uptick to higher prices is near. So who will make the money here, the shorts or the longs?
The American Petroleum Institute today rattled markets with their crude oil supply numbers.
SAN FRANCISCO (MarketWatch) — The oil market got a bit of a shock late Wednesday, when the American Petroleum Institute’s supply data were released.
U.S. crude-oil supplies as of the week ended Feb. 13 saw a whopping 14.3 million-barrel jump from a week earlier, the trade group reported, according to news reports and various sources.
Analysts polled by Platts forecast an increase of just 3.1 million barrels for the week. Prices for March crude CLH5, -2.90% on the New York Mercantile Exchange dropped to $50.48 a barrel in electronic trading after the API data, down from a regular-session settlement of $52.14.
The market will have to wait for confirmation from the U.S. Energy Information Administration, which will release its weekly petroleum supply figures at 11 a.m. Eastern time on Thursday. Supply data are delayed by a day this week due to the Presidents’ Day holiday.
Everyone knows how far oil has dropped since mid-June. For more on its possible rebound read
marketwatch.com/story/if-history-is-a-guide-oil-could-rebound-in-may-2015-02-18
As we said earlier it's a matter of which bias one has.
Everyone knows how far oil has dropped since mid-June. For more on its possible rebound read
marketwatch.com/story/if-history-is-a-guide-oil-could-rebound-in-may-2015-02-18
As we said earlier it's a matter of which bias one has.
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