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WTI Crude Oil: Barely Hanging On
The West Texas Intermediate Crude Oil market was all over the place again during the trading session on Wednesday. The late Tuesday figures coming out of the American Petroleum Institute showed that crude oil inventories dropped in America, but at the same time we have seen gasoline and distillates rise. In other words, even though oil stocks have fallen, the reality is that the end user isn't using them yet. Wall Street has a great habit of being able to simply look beyond the obvious, so I will be surprised at all if they do try to push this market higher. That being said, we are sitting right on the trendline and ... (full story)