Where did all the crude oil go? Long time passing! A 7.06 million-barrel drop, the seventh drop in a row in a crude adding oil supply drawdown of historic proportions. Record refinery runs were operating at 96.7% of their operable capacity last week, running 17.6 million barrels of crude oil per day.
Donald Trump may or may not have the biggest nuclear button in the world, but his country does currently have one of the strongest equity indices. It’s the same old story for stock markets this afternoon as the Dow Jones has pushed to yet more record highs, this time breaking through the 25,000 level as another strong surge in oil prices, added to a strong ADP payroll print has pushed global equity markets higher.