It is kind of crazy that we’ve had one of the coldest weeks ever and yet we saw a big build in distillate inventories. Did everyone turn their heat off? Meanwhile, crude oil sold off earlier this week partly because of President Trump’s comments on the possibility of a ceasefire between Russia and Ukraine, advises Phil Flynn, senior energy analyst at The PRICE Futures Group.
Welcome to the crazy world of oil trading and EIA oil inventories! The EIA said US commercial crude oil inventories decreased by 2.3 million barrels from the previous week. At 430.2 million barrels, US crude oil inventories are about 4%…
