Oil prices remain very volatile and last week’s unexpected and substantial inventory build, reported by EIA, further added to that. The price fell sharply after the data and continued earlier today before recouping those losses to trade flat on the session. It’s understandable why oil prices are so volatile, there’s tremendous uncertainty around the Middle East, the economy, and interest rates which is generating these large moves. There has been more of an upside bias of late but broadly speaking the price remains at reasonable levels that won’t be a concern from an inflationary standpoint. Inverse head and ... (full story)