Crude oil closed back above $70 a barrel as storms, both real and politically, started to develop. Prices were on the rise after U.S. oil supply fell 2.6 million barrels this week, which raised even more concerns about the market’s ability to replace plunging Venezuelan oil production and Iranian exports that reportedly already are facing falling oil supply. Now, you get Mother Nature involved with more storm activity brewing out in the Atlantic, and you have a very bullish outlook.
Daily energy fundamentals from Phil Flynn
Daily energy fundamentals with Phil Flynn
Daily fundamental enerrgy report from Phil Flynn.
Daily fundamental energy report from Phil Flynn.
Most of us have seen in the media the wave after wave of storm cells pummeling the Midwest