SELL WTI

4 thg 12, 2019

US crude oil inventories decreased by 4.9 million barrels from the previous week more than expected, which supported the current rally albeit OPEC meeting tomorrow may disappoint oil market if it failed to cut production more than the markets expects, if it preferred to extend the cut agreement only I think prices would drop sharply as usual during past meetings. U.S. crude oil inventories are about 3% above the five year average for this time of year, the shale oil production would cap any rally so it will be short lived.