“Place your oil bets!”
Thanks to a big, ginormous draw in distillates, crude rallies strongly today to
touch the $56 handle, and settles in the $55’s … that and some talk the Saudi’s
are seeking more production cuts, which of course they don’t disclose until they
know the oil inventories report has gotten the market to rally … then break the
news and it adds further fuel to the rally fire … and stocks rally as well, so
there’s that.
We’ll see if anything can be maintained above $56 … I got my doubts … until
tomorrow mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
No comments:
Post a Comment