Oil Update: Markets sold a dummy?
Since the lows in Jan 2016, WTI Crude has risen +48.5% and Brent Crude +54.5%. Partly driven by a drop in US shale production, renewed appetite for risk following the "blues" of January, and smoke and mirrors from OPEC. From here though, when you look at the detail surrounding OPEC, and the massive oil stockpiling in China, the risk looks back to the downside, as fundamentals catch up with hype. (VIEW LINK)
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