EIA recap

Big Surprise was the drop In Crude Oil production some 100k for the week.Sounds bullish  but it looks  like a one-off Event as tropical Storm Cindy  was the cause.production should be ramped higher for next week’s report.Outside of The production numbers nothing was bullish in my opinion.But oil markets are wanting to trade higher so anything bearish or even in line might be ignored. This is similar to what I talked about yesterday in regards to Draghi speech. If Market has an opinion it  will find a reason to trade in that direction.Crude Oil up through yesterdays highs.

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