Oil finding resistance after inventory data Oil is trading marginally lower so far today, with a stronger dollar potentially being a drag on WTI crude. Yesterday’s inventory report from EIA may also have taken some of edge off the rally, with the drawdown having been lower than that reported by API a day earlier. Oil is in an interesting place though because on the one hand it recently broke through notable technical resistance but on the other it did so as momentum lagged. Reports of a tighter oil market even as the US pumps at record rates will be encouraging to OPEC+ given the efforts made this year to rebalance, ... (full story)