Are We Looking At A Trend Reversal For Crude?

The fundamentals have been light this week, but prices have
been active. This is because of the increased volatility in other
financial markets, specifically the stock market and the U.S.
Dollar. Fundamentally, U.S. inventories continue to fall, but
output continues to rise. As far as OPEC is concerned, there are
signs that its plan to limit production and trim the global supply
appears to be working. However, buyers are skeptical about its
long-term success. Besides the traditional fundamentals, it is
suggested that you start to watch other markets…

The fundamentals have been light this week, but prices have
been active. This is because of the increased volatility in other
financial markets, specifically the stock market and the U.S.
Dollar. Fundamentally, U.S. inventories continue to fall, but
output continues to rise. As far as OPEC is concerned, there are
signs that its plan to limit production and trim the global supply
appears to be working. However, buyers are skeptical about its
long-term success. Besides the traditional fundamentals, it is
suggested that you start to watch other markets…