Yesterday’s release of the EIA Short Term Energy Outlook (http://www.eia.gov/forecasts/steo/pdf/steo_full.pdf) contained two excellent charts showing the stock build of crude oil continuing through the 1st half of 2016, but “tightening” (it’s all relative) picture later in the year:
From the same report, using “days of supply” compares stock levels to daily demand.. Both charts suggest some turbulence ahead for bulls, but, perhaps, for bears too should these forecasts not pan out…
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